Mutt funds are taking £7bn bite
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Swip ranks first with £674m in six dog funds, representing 12 per cent of the total group value of funds under management.
Over £7bn of investors' money is sitting in underperforming "dog funds" according to Best Invest.
The six-month report names and shames the managers and their funds that the company believes should be put on a tighter leash as well as those who should be put down.
To qualify for a "dog" label, the fund must underperform its benchmark in each of the last three years and by 10 per cent or more cumulatively over the period.
The study shows that the number of dog funds has fallen since August from 92 to 82, accounting for 12 per cent of the fund universe. But the report says this means £7.27bn of investors' money is still sitting in the doghouse.
Hargreaves Lansdown investment manager Ben Yearsley comments: "Out of the £200bn under management in mutual funds and unit trusts, there is probably a lot more than £7bn worth switching out of."
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