The amount of client money currently held in underperforming 'Dog' funds has climbed by 80pc to over £19bn since the end of last year, according to research by Bestinvest.
The adviser lists 92 of these Dog funds in the latest edition of its biannual Spot the Dog report. To qualify as a Dog, any open-ended and UK registered fund must and have underperformed its benchmark in each of the last three years and underperformed by at least 10pc cumulatively over this period. Bestinvest said there has been a complete change in the top five worst offending fund management groups with Newton, M&G / Prudential, HSBC Investments, AXA Framlington and Threadneedle all replacing previous offenders and managing £8bn of Dog funds between them - twice the amount found in Janu...
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