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Underperforming dog funds hit record highs




Young finance expert analyzing financial charts on smart phone

Young finance expert analyzing financial charts on smart phone

The number of funds that have consistently underperformed the markets they invest in this year has increased by a third, new data shows.

Bestinvests Spot the Dog Report, which has exhibited underperforming funds since its launch in 1994, cited 119 market investment funds in its last report, collectively accounting for 49.6 billion ($ 69.5 billion) in long-term savings for clients .

The research, which is published every two years, uses statistical fund performance data to identify funds that have performed poorly against their benchmark.

To be included, a fund must meet certain criteria, including offering a return below that of the market in which it invests for each of the last three consecutive 12-month periods. Second, it must also have underperformed the market in which it invests by more than 5% over the entire three-year period under review.

At least 15 funds on the list are managed by some of the biggest names in the financial services industry, each holding more than a billion pounds of cash for investors.

The giant of the Invesco fund (IVZ) retained the top spot for the sixth consecutive time, with 11 funds worth 9.2 billion in assets.

Jupiter (JUP.L) climbed to second place, having acquired Merian Global Investors last year, while St. James Place (STJ.L) and Schroders (SDR.L) came in third and fourth place respectively.

The report covers funds investing in a wide range of markets including UK, global equities, North America, Europe, Asia (excluding Japan), Japan and markets emerging global.

READ MORE: Underperforming dog funds hit record highs

The highest number of consistent underperformers was found in the global equity sector, while North America had a prolific number of dog funds at 21.

Jason Hollands, Managing Director of Bestinvest, said: If your savings are tied up in an investment fund that repeatedly generates lower returns than the market it invests in, then you really owe it to yourself to take a closer look and think about it. if you’d better move it somewhere else.

The differences between the best performing and the worst performing funds are huge and therefore it is essential to choose the funds very carefully and then monitor them closely or go for low cost trackers. The latter will not beat market returns but will closely mimic them.

He added that it’s not always clear to savers if their money is tied up in a dog fund, as the majority of funds are still producing returns. Only 32 of 119 investors lost money.

Of course, the past is not the future and there may be times it’s worth hanging on, he said.

For example, if a new manager with a better track record has recently been appointed to the helm, or you believe that an approach that was unfavorable is about to return. However, if you really can’t find a compelling reason to stay in an equally managed investment, moving elsewhere could give your ISA or pension a new lease of life.

WATCH: How to avoid going into debt

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