Newton heads up Bestinvest's Spot the Dog table

Over half of £19bn dog funds by assets are from UK Equity Income sector, as value stocks continue to struggle

Newton's £3bn Higher Income fund is the largest to feature in the latest Spot the Dog research from Bestinvest, making the group the worst overall offender in the research. In total, the analysis highlighted 92 so-called dog funds, amounting to £19bn in assets. Best said this represents a rise of 80% compared to the end of 2007 but is not unexpected as the number of underperforming funds tends to rise in line with market volatility. According to Best's definition, a dog fund has underperformed in each of the last three years and is 10% under its benchmark cumulatively over the period....