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Big funds managers shown up by smaller rivals

Big name fund managers are trailing behind their smaller rivals in the performance stakes reports the Financial Times.

The poor performance is revealed in a survey of pooled funds by Combined Actuaries Performance Services.

In it household names including Mercury Asset Management, Schroders and Philips and Drew are shown up by smaller competitors such as Orbitex Investments, Fuji-Lord Abbett and Tilney Fund Management.

Fuji-Lord Abbett topped the survey with the best performance over three years returning 20.2 per cent a year, the Tilney Balanced fund was second with 14.6 per cent.

In contrast languishing in the bottom five were Schroders with 9.1 per cent a year return, Mercury Life with 8.9 per cent, National Mutual with 8 per cent and at bottom with 7.6 per cent was Murray Johnstone.


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