group claims best invest 'dog fund' awards for underperforming us and uk offerings
Aberdeen has completed an unenviable double, topping Best Invest's list of UK and US dog funds.
The majority of the worst performers are UK funds, topped by its Fund of Investment Trusts, down 50% versus the FTSE All-Share over the past three years. Aberdeen's UK Growth fund is also listed, along with its North American fund, which underperformed the S&P 500 by 26% over three years, according to Best Invest. Aegon and Govett have four funds apiece included in the list, the highest number of any group, while Aberdeen, Old Mutual and Scottish Widows Investment Partnership run three dogs each. Four of Hendersons third-party links are featured on the list of poor performers, which has been compiled by the intermediary group.
Aegon's four poorly performing funds are all UK funds, as are three of Govett's.
Aegon UK Blue Chip, UK Equity Growth, Socially Responsible and UK 100 tracker underperformed the FTSE All-Share by 14.5% on average over three years, while Govett's UK Blue Chip, UK Enhanced Opportunities, UK Smaller Companies and Japan funds are down 23.25% on average against their respective benchmarks.
Clerical Medical took over the management of the underperforming £712.5m Halifax Growth fund in January 2001 but has been unable to prevent the fund turning £100 into £89.83 over the past three calendar years.
The worst fund of all was Fidelity Asean, which underperformed its MSCI AC Far East excluding Japan benchmark by 74% over three years. The fund suffered after the Malaysian government froze the withdrawal of foreign investor's capital from the country.
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