Is it time to ditch Geffen's Income fund?

Wealth managers are becoming increasingly concerned about allocating towards the Neptune Income fund, amid Hargreaves Lansdown's decision to remove the fund from its Wealth 150 list earlier this week.

The D2C platform giant cited fund manager and Neptune CEO Robin Geffen's stock selection as the main reason for disappointing performance over the past year. According to Hargreaves, stocks selected from the US technology sector and the mining sector in particular have held back performance. The £790m fund, which launched in 2003, is currently ranked 90th in the IMA UK Equity Income Sector, one position away from being the worst performing fund in its universe. Over the twelve months to August, the fund has returned 12.4% against the sector average of 23.3%, according to Morningsta...