Bestinvest's list of 'dog funds' highlights funds that have underperformed their benchmark by 10% or more cumulatively over the last three years.
Major fund groups Scottish Widows/SWIP, Legal & General, Neptune, Schroders and Fidelity have all topped Bestinvest's list of fund houses with the most dog funds.
Scottish Widows was the worst performing fund house with ten funds totalling £5.98bn of assets, equivalent to two thirds of the group's total assets under management. Legal & General had eight while Neptune, Schroders and Fidelity had four apiece.
By value of assets sitting in dog funds, Scottish Widows/SWIP, Schroders, Fidelity and M&G topped the table.
Are your clients stuck in one of these serial underperformers?
Below is a list of the worst three performing funds from each of the ten sectors reviewed by Bestinvest:
Sector/ Benchmark 3yr return (%)
|Relative 3yr return (%)|
|UK All Companies - FTSE All Share 147.43|
|Standard Life UK Opportunities *||-33|
|SWIP UK Opportunities||-18|
|Average 3-year return||125.43|
|UK Equity Income - FTSE All Share 147.43|
|Scottish Widows UK Equity Income||-15|
|Marlborough UK Income and Growth||-14|
|SWIP UK Income||-13|
|Average 3-year return||129.29|
|UK Smaller Companies - Numis Smaller Cos Ex IT 164.78|
|SF Webb Capital Companies Growth||-60|
|UBS UK Smaller Companies||-33|
|Franklin UK Smaller Companies||-26|
|Average 3-year return||111.25|
|Europe - FTSE Europe Ex UK 120.05|
|Standard Life European Ethical Equity||-14|
|Scottish Widows European Growth||-11|
|Average 3-year return||107.75|
|Global Emerging Markets - MSCI Emerging Markets 140.12|
|IM HEXAM Global Emerging Markets||-36|
|Templeton Global Emereging Markets||-19|
|SWIP Emerging Markets||-10|
|Average 3-year return||110|
|Asia Pacific - MSCI AC Asia Pacific ex Japan 144.63|
|F&C Pacific Growth||-21|
|Marlborough Far East Growth||-19|
|HSBC Chinese Equity*||-19|
|Average 3-year return||116.33|
|North America - S&P 500 165.58|
|Neptune US Opportunities||-24|
|Cavendish North American||-21|
|Average 3-year return||140.74|
|Japan - Topix 111.95|
|Neptune Japan Opportunities||-36|
|Average 3-year return||72|
|Global - MSCI World 145.85|
|Allianz Global Eco Trends||-40|
|PFS Taube Global||-24|
|Average 3-year return||122.94|
|Absolute Return - LIBOR GBP 3 Months 102.48|
|SVM UK Absolute Alpha||-26|
|Average 3-year return||76|
|*FTSE All-Share ex FTSE 100 ex Investment Trusts|
|*MSCI Golden Dragon|
Industry Voice: Scottish Widows pension expert Robert Cochran and economist Andrew Scott discuss the future of employment and income, in episode three of Scottish Widows' podcast series.
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