The number of funds falling into Chelsea Financial Service's RedZone of consistent underperformers has jumped since May, by 96 to 239 vehicles, as portfolios have been buffeted by recent market volatility.
This means around £102bn is now sitting in underperforming funds, more than double the £48.5bn featured in May's numbers, and a "worrying sign" managers are struggling to recover from bad periods of performance, according to Chelsea. The RedZone highlights the worst performing funds over the past three discrete years, with each entrant 3rd or 4th quartile each year in their sector. Troy Trojan 'biggest disappointment' in Chelsea's RedZone UK All Companies fares worst with 44 funds and around a third of RedZone assets (£36.6bn). Global is second with 25 funds and £7bn, while UK Equit...
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