The number of poor performing ‘dog’ funds has risen from 58 to 111, according to Tilney Bestinvest's latest Spot the Dog report. As a result, the amount of money held in the serial underperformers has surged from £33.6 billion to £54.6 billion.
If markets turn rocky, investors will need to start paying more attention to the relative performance of their fund choices.
IMA global topped July's Spot the Dog report, which highlights the sectors housing the greatest number of underperforming equity funds.
The IMA global sector contains more underperforming funds relative to the number of funds in the sector than any other, according to BestInvest.
The total value of dog funds turning out consistent underperformance has swollen from £12.1 to £13.3 billion over the past six months, boosted by rising markets, according to Bestinvest's latest Spot the Dog report.
The number of so-called ‘dog’ funds has fallen by almost half, according to Bestinvest.
Manek Growth is the worst-performing fund over the past three years and should be dropped like 'a hot stone' from investment portfolios, according to Chelsea Financial Services’ latest dog fund review.