Assets in 'dog' funds double over past year

Investor money in poorly performing funds had doubled to £14.25bn over the past year, with Invesco Perpetual running the most ‘dog' assets under management, Bestinvest reveals.

The independent investment manager and financial adviser's biannual Spot the Dog report shows retail investor money in underperforming funds has jumped from £7.2bn in January last year and £13.72bn from the last report in October. The actual number of dog funds has also risen from 77 to 90. Invesco Perpetual has £1.77bn of poorly performing assets across three funds and is the only group to have a ‘dog' product in the US sector. While the group sits atop the list, Bestinvest says it is confident Invesco Perpetual's "strong investment culture" will enable it to rebound. Schroders sits ...