It’s a dog’s life for far too many funds

The latest list of 'dog' funds - those which have underperformed its benchmark by at least 10% over three years - is double what it was for 2006. So which funds are the worst offendors?

Most professional fund managers can't have been terribly pleased when Jayesh Manek arrived on the scene in 1997. The West London chemist had effectively won a job in the City in a competition, receiving backing for his own fund from enthusiastic investors after winning a Sunday Times fantasy portfolio contest for two years in a row in the mid-1990s.

So there must have been more than a hint of malicious pleasure from some when his fund, Manek Growth, promptly lost a lot of money after following precisely the strategy that had won him the portfolio competitions betting heavily on booming technology stocks.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Jody Clarke

Jody studied at the University of Limerick and was a senior writer for MoneyWeek. Jody is experienced in interviewing, for example digging into the lives of an ex-M15 agent and quirky business owners who have made millions. Jody’s other areas of expertise include advice on funds, stocks and house prices.