Based on research from FE Analytics, the DropZone lists funds which have underperformed their sector averages by the largest amount over a cumulative three-year period (to 1 May 2015).
Dobell’s M&G Recovery underperformed the IA UK All Companies sector average by 32.7% over the period, with Mobius’ Templeton Global Emerging Markets down 24.9% versus IA Global Emerging Markets and Troy Trojan 23.8% below IA Flexible Investment.
The worst performers versus their indices in the 10-strong list were the £2m SF Webb Capital Smaller Companies Growth (96.6%) and First State Global Resources (69.2%) funds.
The DropZone |
|
|
Rank |
Fund |
% underperformance |
1 |
SF Webb Capital Smaller Cos Growth |
96.6 |
2 |
First State Global Resources |
69.17 |
3 |
HC FCM Salamanca Global Property |
65.45 |
4 |
Elite Charteris Premium Income |
40.22 |
5 |
FP HEXAM Global Emerging Markets |
35.28 |
6 |
M&G Recovery |
32.71 |
7 |
Aberdeen World Equity Income |
31.08 |
8 |
Newton Oriental |
25.94 |
9 |
Templeton Global Emerging Markets |
24.87 |
10 |
Troy Trojan |
23.77 |
Darius McDermott, managing director at Chelsea, said: “First State Global Resources has been hit by the slump in oil price and commodities in general. Sitting as it does in the wider Global sector, the underperformance is magnified considerably.”
The biggest disappointment for McDermott was Troy Trojan: “Sebastian Lyon has been extremely bearish in recent years and currently has around 20% in cash and 10% in gold bullion, which has really hurt the fund.
