Fidelity the biggest culprit as RedZone finds £35bn in underperforming funds

Investors have sunk nearly £35bn into underperforming funds, with Fidelity the worst offender by number of products, according to Chelsea Financial Services.

Chelsea’s tri-annual RedZone list of underperforming funds has highlighted poor performance from heavyweights Fidelity, Legal & General, and SWIP. With eight funds, Fidelity has the highest number of underperforming names in the latest RedZone. Trevor Greetham’s Multi Asset Strategic fund has performed poorly for a third time, while its UK Select, European Opportunities, and UK Growth funds also failed to deliver. “Fidelity UK Growth was a serial offender for many years, before the current manager, Tom Ewing, took the fund on and managed to turn performance around. It seems it is o...