Moneyspider in the News

Moneyspider blasts big names

Investment Adviser

Independent financial advice website Moneyspider.com has blasted the performance of big name fund houses and urged investors to go elsewhere.

The group has released its latest lowest-performing fund ratings, which singles out fund houses such as Scottish Widows Investment Partnership, Standard Life Investment and Henderson.

The data showed that Swip had a large amount of its funds, 20 out of 38 listed, in Moneyspider's D and E category, the bottom 40 per cent of funds as judged by Moneyspider.com criteria.

SLI fared no better, with 40 per cent of its funds in the website's lowest ratings. Nearly a third of Legal & General's funds had been relegated to the underperformance pile, while F&C saw 11 of its 40 funds on the list as well.

Tony Ahearne, spokesman for Moneyspider, said: "Investors are constantly being short-changed by funds promoted by many of the largest fund management houses, which spend heavily marketing but consistently struggle to deliver the goods with a number of their funds. But there are well over 2,000 funds available, with many groups, such as Rathbone, First State, St James's Place, and Artemis, turning in consistent A and B ratings for their funds."

Mr Ahearne said investors were now more often being left in the dark by their fund managers.