Over £20bn sits in consistently poor funds - Chelsea FS

In its June Relegation Zone analysis, Chelsea identified £21.5bn of assets sitting in underperforming vehicles – with £5.32bn from the UK Equity Income sector. The largest casualty is the Newton Higher Income fund, with £2.86bn under management; followed by the Scottish Widows Corporate Bond fund (£2.67bn) and the HSBC Growth & Income fund (£898.1m). Chelsea says the “normally solid” income stocks, such as banks, have been hit hard by the credit crunch – leading the sector to underperform the FTSE All-Share by 12.7% over one year. The analysis also shows the FTSE 100 suffered its worst f...