The new BestInvest ‘spot the dog’ report is available and highlights that there are a 153 funds that have underperformed within the market during the past three years. Despite the poor performance, these funds have still cost investors £1bn in charges.
The worst pension fund offender was the Standard Life UK Opportunities fund with a 2% return over three years, compared to an average sector gain of 32%.
Generally, funds from BlackRock, Baillie Gifford, F&C, Jupiter and Scottish Widows are investment companies with a number of funds that are performing poorly.
However, funds from a number of firms such as JP Morgan, M&G, AXA, and Newton do not make an appearance on the ‘dog’ list.
The list is available at bestinvest.co.uk.