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Aberdeen tech fund is top dog in Bestinvest survey

More than 140 funds representing over £15.6bn of investors&#39 cash

are consistently failing their benchmarks, according to the 2002

edition of IFA Bestinvest&#39s Spot the Dog guide.

Top dog in this year&#39s survey is the Aberdeen European technology

fund with a three-year return of -88 per cent, with Aberdeen fund of

ITs, Framlington net net and Smith & Will-iamson global tech

yapping at its heels on -87 per cent.

The guide says 2002 has been a vintage year, with more than 10 per

cent of all unit trusts and Oeics, 148 funds in total, meeting its

inclusion criteria of underperforming their benchmarks consistently

for three years and cumulatively by more than 10 per cent over that

period.

It says it is worrying that there are so many mainstream UK funds

such as Abbey National&#39s UK growth on -44 per cent and Friends

Provident&#39s UK equity funds on -46 per cent among the worst offenders.

In total, there are 37 UK, four fixed income, 14 UK smaller

companies, 25 international, 13 European, 19 Japanese & Asian, 24

North American, seven emerging market and five technology funds

featured in the guide.

Managing director John Spiers says: “It is vital to keep a vigilant

eye on your investments. At a time when stockmarkets have been

falling and most pundits predict only modest longterm returns from

equities of 7 to 8 per cent a year, it is vital not to pay management

fees for poor performance.”

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