Dog funds

[Adamski]

Interesting article by Jeff Prestridge in MoS, Britains worst performing funds. Top is Woodford unsurprisingly -45% in 3 years, but many shocking returns from so called experts. Incl. L&g uk alpha -42%, Invesco uk strategic income-34%, St James place uk high income -32%. What the hell have these managers been doing. Shocking to pay fees for such consistent underperformance. Just as interesting groups with no dog funds, incl. Aviva, BG, Fundsmith, BlackRock, Lindsell Train.

[terminal7]

2 points to note:

1. The article is based on the regular publication by Bestinvest called 'Spot the Dog' - highly recommended. Just go to their site and download.

2. The analysis is based on equity funds - it does not cover for instance bonds. Indeed for those in the later struggles of life, investment in bonds have been the financial saviour since the Plague.

T7

[richfool]

When I spotted this topic title, for a few seconds I thought it was about investing to pay your pet dog' s food and medical costs. And when I quickly scanned the 2 posts I saw "spot the dog", and thought yes, I'm right, and was trying to remember the name of the dog we had when I was a lad!!

Clearly I was barking up the wrong tree, so will turn my attention to the real topic.

So I got my teeth into the subject and found the link, and am pleased to say I don't hold any:

https://www.thisismoney.co.uk/money/inv ... 0&ito=1490

[scotia]

When I spotted this topic title, for a few seconds I thought it was about investing to pay your pet dog' s food and medical costs. And when I quickly scanned the 2 posts I saw "spot the dog", and thought yes, I'm right, and was trying to remember the name of the dog we had when I was a lad!!

Clearly I was barking up the wrong tree, so will turn my attention to the real topic.

So I got my teeth into the subject and found the link, and am pleased to say I don't hold any:

https://www.thisismoney.co.uk/money/inv ... 0&ito=1490

Its a pity it appears to have restricted its observations to "funds" and ignored Investment trusts - where you will find some very large trusts which deserve equal shaming.

[Adamski]

When I spotted this topic title, for a few seconds I thought it was about investing to pay your pet dog' s food and medical costs,

[Adamski]

and ignored Investment trusts - where you will find some very large trusts which deserve equal shaming.

Did a quick ranking on Fidelity investment finder, 3 year annualised return:

Top 3 - Allianz Technology 31%, SMT 30% and Edinburgh Worldwide 28%

Bottom 3 - Schroder UK Public Private Trust -33%, BMO Commercial Property -21%, Downing Strategic Micro-Cap Inv. Trust -19%

Best performing UK were Standard Life UK Smaller Cos 7%, and Baillie Gifford UK Growth 4%. BG certainly seem to have the midas touch this year.

[Alaric]

Bottom 3 - Schroder UK Public Private Trust -33%,

which is the renamed Woodford IT.

[Joe45]

This illustrates to me the inescapable logic of passive investing. For every managed fund that out-performs the market, there must be an equivalent under-performer. Furthermore, there are dogs that have been quietly put to sleep (or cunningly "merged") and therefore don't even appear.

[Avantegarde]

This illustrates to me the inescapable logic of passive investing. For every managed fund that out-performs the market, there must be an equivalent under-performer. Furthermore, there are dogs that have been quietly put to sleep (or cunningly "merged") and therefore don't even appear.

Indeed. The FT Guide to Investment Trusts, written by John Baron and published in 2013, revealed that between 1998 and 2010, 2,660 funds were launched while 2,486 were closed. A massive turnover rate as 2,574 remained in existence in 2010, only 137 more than 12 years before!