Bestinvest “names and shames” dog funds of 2012
Senior adviser Adrian Lowcock highlights the funds that have underperformed their benchmark in each of the last three years and by 10 per cent or more over the cumulative period.
More than £26.5bn of retail investors’ money is held in consistently underperforming funds, according to the latest Spot the Dog study from Bestinvest.
The figure is almost three times as high as in the previous edition back in February this year.
SWIP is once again the biggest offender, with £5.98bn of investors’ hard-earned cash in dog funds, followed by
Schroders,
Fidelity,
M&G and
BlackRock.
Individual offenders include Andy Brough’s
Schroder UK Mid 250 fund, which makes its sixth consecutive appearance in Spot the Dog, as well as Mark Lyttleton’s £910m
BlackRock UK Absolute Alpha portfolio.
Dog funds are defined as those that have fallen short of their benchmark in each of the last three years and underperformed by 10 per cent or more over the cumulative period.
You can download the full Spot the Dog guide on www.bestinvest.co.uk/dogs