Jupiter surprise leader of Bestinvest 'dog' list

Jupiter and Schroders are surprise entrants at the top of Bestinvest's ‘dog assets under management list', which tracks the largest funds performing well below their recognised benchmark.

The ‘dog’ list identifies UK-registered open-ended funds which have underperformed the benchmark in each of the last three years and by at least 10% over the period cumulativel. A ‘dog’ candidate last year, Jupiter’s surprise appearance at the top of the list is down to the performance of its £2.8bn Income fund, managed by Tony Nutt. In total, the fund house has nearly £3bn of assets in the ‘dog house’. However, Jupiter head of communications Alicia Wyllie says over the past one, five and ten years, the group's Income fund has beaten the average equity income product. "In the rally...