1. Wealth
November 2, 2009

ST: Dog funds revealed

By Spear's

Some of Britain’s most high-profile managers have been singled out in a survey of the country’s worst-performing “dog” funds.

Some of Britain’s most high-profile managers have been singled out in a survey of the country’s worst-performing “dog” funds.

Investors have a staggering £14.2 billion in serial underperformers, according to the survey by Bestinvest, the financial adviser — with some big name managers among them.

Schroders, for example, has £1.76 billion under management in poorly performing funds, owing largely to the surprise inclusion of Andy Brough’s £1.7 billion UK Mid 250 fund, which invests in small and medium-sized firms.

To be included in Bestinvest’s survey, a dog fund must have underperformed its benchmark in each of the past three years as well as by 10% or more cumulatively over that period. Brough’s fund is down 12.39% over the past three years compared with a gain of 0.42% in the FTSE 250, according to Bestinvest’s figures.

Schroders said: “To put the Bestinvest report into context, over one year and in the recent rally, not one mid-cap fund has outperformed the index. Against its benchmark, the Schroder Mid 250 fund is the second-best performing fund of its type in the year to date (up 18%) and over six months (up 46%). We are confident the fund will continue to deliver for investors in the years to come.”

To read the full story, visit timesonline.co.uk

Content from our partners
How Guernsey’s private trustee structures can protect assets 
Luštica Bay: The Adriatic's most coveted address
AI, growth and public policy: What is the future for Britain?
Websites in our network