Moneyspider in the News
21/08/2007
Major Banks Fund Losers
The Sun
High Street banks have been blasted for failing to provide a wider variety of
investment funds.
And thousands of customers are being short-changed, say fund data analysts
moneyspider.com. The experts say smaller investment houses are outclassing the
big boys with higher fund ratings.
NatWest and Abbey have the lowest number A and B rated funds - meaning their
investors are missing out on the opportunity to make decent profits from their
money, they claim. Funds from Halifax and HSBC also fall short.
Moneyspider.com's Tony Ahearne says: "This research highlights the dangers of
simply relying on a well-known name to deliver top returns. Keeping a close eye
on your fund's performance is absolutely crucial to investing successfully."
Abbey leads the High Street Horrors table with just six of 25 funds getting a
top A or B rating.
In stark comparison, over 90 per cent of niche manager First State Investments
UK Ltd funds have top-class A and B ratings. Artemis Fund Managers also scored
on 90 per cent.
Investors can get free advice and check how funds are performing at
moneyspider.com.
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