HL revamp their marketing list

quirkydeptless

jamesperrett said:

TUVOK said:

the new selection of funds is one very poor selection.

They're still limited by the number of fund managers who will agree to subsidise their discounted fees.

The Wealth Whatever list funds are usually discounted, but the new additions don't have discounts, so that's not a limiting factor for what goes on it. There are other funds not on the list that are discounted, possibly ones that got kicked off it in the past.

quirkydeptless

https://www.hl.co.uk/funds/research-and-news/fund-news--and--alerts/fundsmith-equity-july-2020-fund-update
"We admire his simple and straightforward investment approach and would like to be given the opportunity to properly analyse the fund.
Our process, however, requires access to the fund manager and up-to-date, monthly portfolio data, which some fund groups, including Fundsmith, choose not to disclose.
Based on readily-available historical data, had we been able to properly analyse the fund, it’s likely that it would have made the Wealth Shortlist. We can’t, however, make an exception to our process, so we won’t be considering the fund for the list as things stand."

I bet Terry Smith is gutted   

aroominyork

"it’s likely that it would have made the Wealth Shortlist... and then we would have found some kind of reason to exclude it, because he doesn't like us and we don't like him." 

Moe_The_Bartender

If they were serious about wanting up to date data, it can be found easily enough. They presumably had full access to Woodford's data so they could properly analyse his fund. So how come they didn’t when amateurs like me could see what was happening and got out early.

talexuser

Absolutely right, I got out when my profit went down to 30%, and they should have had a better idea then me! The excuses are pathetic really, is Dampier still there? he was supposed to retire after the debacle, then didn't. The only reason Terry Smith isn't on their puff list is he won't give them a discount, and with his record (at least so far), why on earth should he need to?

TBC15

It’s interesting to look at the performance of their Wealth shortlist https://citywire.co.uk/wealth-manager/news/hargreaves-wealth-shortlist-how-the-new-funds-stack-up/a1376908?re=75967&ea=495686&utm_source=BulkEmail_WM_Daily_PM&utm_medium=BulkEmail_WM_Daily_PM&utm_campaign=BulkEmail_WM_Daily_PM#i=1

What can you say?

Moe_The_Bartender

TBC15 said:

It’s interesting to look at the performance of their Wealth shortlist https://citywire.co.uk/wealth-manager/news/hargreaves-wealth-shortlist-how-the-new-funds-stack-up/a1376908?re=75967&ea=495686&utm_source=BulkEmail_WM_Daily_PM&utm_medium=BulkEmail_WM_Daily_PM&utm_campaign=BulkEmail_WM_Daily_PM#i=1

What can you say?

Artemis Global Income - 1* on Trustnet, 1* on Morningstar. Downgraded from Bronze to Neutral on Morningstar (reservations about strategy execution, liquidity and risk management). 43 out of 55 over 3 years in it's IA sector, 33 out of 55 over 5 years. Bottom quartile for performance, bottom quartile for volatility.

Jupiter Global Value - no rating Trustnet, 3* Morningstar. Only launched in March 2018 so no long track record. 302/329 in IA Global over last year.

MAN GLG Japan - 1* Trustnet, 1* Morningstar. Bottom quartile for performance, volatility, Sharpe, alpha. 64/68 and 59/68 over 3 and 5 years.

Malthusian

quirkydeptless said:

https://www.hl.co.uk/funds/research-and-news/fund-news--and--alerts/fundsmith-equity-july-2020-fund-update
"We admire his simple and straightforward investment approach and would like to be given the opportunity to properly analyse the fund.
Our process, however, requires access to the fund manager and up-to-date, monthly portfolio data, which some fund groups, including Fundsmith, choose not to disclose.

Yeah lol no. Fundsmith's holdings are on Morningstar the same as any other mainstream fund, and if Dampier picked up the phone to Terry Smith he'd answer. As others have said, the idea that Hardcheese Pantsdown analyses the Wealth 50's holdings on a month-to-month basis is hilarious, given what happened at Woodford. It's about comm.

(For the uninitiated, Wealth 50 funds giving up a slice of their annual management fee to HL, via fund discounts which allow HL to charge a higher platform fee, is commission by another name.)

Thrugelmir

Malthusian said:

quirkydeptless said:

https://www.hl.co.uk/funds/research-and-news/fund-news--and--alerts/fundsmith-equity-july-2020-fund-update
"We admire his simple and straightforward investment approach and would like to be given the opportunity to properly analyse the fund.
Our process, however, requires access to the fund manager and up-to-date, monthly portfolio data, which some fund groups, including Fundsmith, choose not to disclose.

Yeah lol no. Fundsmith's holdings are on Morningstar the same as any other mainstream fund, 

If the fund doesn't provide a monthly factsheet then the published data is out of date. 

Malthusian

Morningstar's full holdings data isn't month-to-month (though Fundsmith's monthly factsheets do have the top 10 holdings), but that doesn't matter as HL don't actually re-analyse the Wealth 50 every month. For research purposes HL has more than enough data.