Retail investors' money in underperforming funds has leapt by 74% to £23.16bn, an increase of over £10bn since November 2010, according to Bestinvest.
The investment manager's Spot the Dog report reveals Fidelity are top dogs with £3.4bn of poorly performing assets, the majority of which are held in Sam Morse's £3.1bn Fidelity European fund. Newton sits in second place, with BlackRock, Schroders and Scottish Widows the other top offenders. Funds in the IMA Global sector were the worst performers with 27 dog funds making the list, up from 11 in 2010. BlackRock’s Mark Lyttleton has entered Bestinvest's infamous list of 'dog funds' after underperforming the benchmark consistently on both his £1.4bn UK Dynamic fund and £541m UK fund....
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