THE ‘WEALTH SHORTLIST’ FUNDS THAT ARE LIKED BY 3 OR MORE OF ITS 5 MAIN RIVALS
THE subjectivity of best buy fund lists is confirmed by the fact that 31 of Hargreaves Lansdown’s 68 Wealth Shortlist investment funds do not make it on to any of its rivals’ lists.
The Mail on Sunday compared the Wealth Shortlist with Interactive Investor’s ‘Super 60’, Fidelity’s ‘Select 50’, Fund Calibre’s ‘elite funds’, Bestinvest’s ‘toprated’ funds and AJ Bell’s ‘favourite’ funds.
Only eight of Hargreaves Lansdown’s list make it on to Interactive Investor’s best buys. The comparable figures are for Fidelity, eight, Fund Calibre 21, Bestinvest 12 and AJ Bell 15. Those funds on
Hargreaves Lansdown’s list that are also rated by a majority of rivals are shown in the table.
For the record, Fundsmith Equity – excluded by Hargreaves Lansdown – is on the best buy lists of Interactive Investor, Fund Calibre and Bestinvest.
Final word goes to Anthony Morrow, chief executive of money manager OpenMoney. He says: ‘Picking funds through best buy lists can be risky, no matter how they are built and they should not be seen as a substitute for taking regulated financial advice. Those who use best buy lists as the basis for investment decisions are really on their own if things go wrong.’