Investec fund joins Wealth 150

Hargreaves Lansdown has added Investec Global Special Situations to its Wealth 150 list of recommended funds.

According to Hargreaves, Alastair Mundy, the manager of the £12m fund, “tends to avoid the most fashionable parts of the market and focuses on areas that are not receiving as much attention”.

The fund lost 4.27% of its value over the 12 months to March 23, against a 22.03% loss for its sector, the Investment Management Assication’s (IMA) Global Growth sector, according to Financial Express.

Stuart Goodwin, an analyst at Hargreaves Lansdowqn, said in a statement: “Mr Mundy is an experienced investor who has been running a UK fund along similar lines for years.” He recommends the vehicle for “a patient investor who doesn’t like following the herd”.

According to Hargreaves Lansdown, the fund’s top 10 holdings including Newmont Mining Corporation, American Treasury bills, Fresnillo, Kinross Gold Corporation and ExxonMobil.