Aberdeen tops Chelsea's RedZone but total AUM falls

The volume of assets held in underperforming funds has fallen by a quarter, although the number of funds has increased, according to Chelsea Financial Services' latest RedZone list.

The list identifies the worst performing funds over the past three years and includes 156 funds, up from 149 in October 2014. However, the total number of assets held in these funds has fallen from £46bn to £34bn, helped by the removal of the £8bn BlackRock UK Equity Tracker fund from the list. The most featured company was Aberdeen Asset Management with 10 funds on the list, up from seven in October, including two in the DropZone of worst performers. The Aberdeen World Equity Income fund underperformed by 30.5%, while the group's European Smaller Companies Equity fund underperform...