The Investec Monthly High Income and Standard Life Investments Higher Income funds have both been removed from the list.
The removal of the Standard Life Investments fund follows a recent manager reshuffle and the suspension of it’s A-rating by Old Broad Street Research.
Meera Patel, senior analyst at Hargreaves Lansdown, says the move is a precautionary measure and will wait to see how new manager David Ennett performs.
She says: “Taking recent performance and the management changes into consideration we believe it is prudent to remove the fund from the Wealth 150.
“We do not believe existing investors should consider selling the fund if it still meets their objectives.
“We shall continue to monitor the fund and if our views change we will keep investors fully informed.”
Patel says the fund has been too cautiously positioned since 2008 but had seen “respectable” performance since the change of management in 2011.
The Investec fund has also been removed as a precautionary measure while Hargreaves Lansdown monitors it for “sustained improvement”.
She adds: “While the fund’s flexibility to move its asset allocation initially proved rewarding, our conviction in the fund has fallen.
“It is entirely possible the managers can return to form, and we would therefore suggest investors take no further action if the fund still meets their objectives”
She says the fund has been removed for underperforming the IMA Sterling High Yield sector over the past three years.