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Our investment partner, Tilney Bestinvest, is in the dog house again. Not from investors, I hasten to add, but from investment fund managers whose performance is in question. The reason is the recent publication of the spring 2015 edition of ‘Spot the Dog’, a publication which publicly names and shames the worst performing funds which are failing to provide a return on investors’ hard-earned cash and, as a result, adversely affecting their investment portfolios.
And we are not talking about just an odd blip in performance, funds exposed as ‘dogs’ have to have performed at least 10% below industry standard benchmarks for three consecutive years. Given that time frame, the managers of these funds cannot claim their unsatisfactory performance is due to ‘bad luck’ and there is ample reason to question their performance in terms of choice and management of funds.
While the report is bad news for underperforming fund managers, it is good news for canny investors who wish to ensure that their financial investments are providing value. Performance matters, especially if you are relying on your investments for your future financial security. The free, downloadable Spot the Dog report can be used as an easy reference guide to check that there are no dogs dragging your investments down.
For each investment sector covered, the best and worst performers are highlighted. If we take UK All Companies Dogs as an example, the pedigree pick of the funds in this sector was the JM Hambro CM UK Dynamic. If you had invested £100 in this fund 3 years ago, your investment would be worth £171 today and you’d probably be pretty chuffed. Compare this with the worst of the dogs, Scottish Widows UK Select Growth, which would have earned you a mere £8 on your £100 investment – less than £3 per year. The performance of this fund is 21% below its stated benchmark and not likely to bring a smile to the face of any investor.
A word of caution in interpreting the report: you should not automatically sell, sell, sell any dog funds as there may be a justifiable reason for a fund appearing on the list. Steps may already have been taken to right performance by appointing a new fund manager or changing investment approach, or the existing fund manager may have a great reputation for turning around the fortunes of a fund. However if you find that you have money tied up in a dog, you do need to take action, make some investigations and assess the best plan of action going forward.
If you need the help of an expert, do contact us so that in partnership with Tilney Bestinvest, award winners and leaders in their field, we can manage your investments to achieve the best possible results and ensure that you are on track to achieve your financial objectives, whether they be a secure retirement or the purchase of a luxury yacht!
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