Hargreaves adds Threadneedle UK Equity Income to Wealth 150

Hargreaves Lansdown has added the Threadneedle UK Equity Income fund to its Wealth 150 recommended list of funds.

The £2.3bn fund, co-managed by Leigh Harrison and Richard Colwell, has delivered top quartile performance in the IMA UK Equity Income sector in three, five and 10 years, according to figures from FE Analytics.

In a research note, Hargreaves Lansdown senior analyst Meera Hearnden said the fund had built up a “formidable” track record.

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Ms Hearnden said Mr Harrison and Mr Colwell had managed to add value through both “reading the economic environment correctly” and through “positive stock selection”.

The fund has joined a Wealth 150 list that currently stands at only 94 funds, one of which is Mr Harrison and Mr Colwell’s £590m Threadneedle UK Equity Alpha Income fund,

The Alpha fund is a more concentrated alternative to the Equity Income fund, investing in 25 to 40 stocks rather than 45 to 60 stocks.

The addition of the Threadneedle fund comes as Hargreaves Lansdown is expected to announce its clean-fee platform pricing structure later this week.