Halifax Bank of Scotland (HBOS) has taken the number one spot from relentless top dog Invesco, leaping to the top of BestInvest’s Spot the Dog league table of underperforming funds with £6.9bn of poorly-performing funds.
The report has identified 77 underperforming funds representing £29.5bn of investor capital, which must deliver a worse than market return for each of the last three 12-month periods and underperform the market by more than 5% over three years to qualify. The Lloyds Bank group owned fund house jumped from 16th place in the last report to oust Invesco's six consecutive wins (or losses) as the worst-performing group. Five HBOS funds combined to give the manager its top spot, including the £3.9bn Halifax UK Growth and £1.9bn Halifax UK Equity Income funds, which are advised by Schroders....
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