Press Release
Moneyspider.com
PRESS RELEASE
FOR IMMEDIATE DISTRIBUTION
6 August 2007
NOT THE MAGNIFICENT SEVEN - MONEYSPIDER.COM
HIGHLIGHTS BIG NAME FUND GROUPS WITH LOWEST RATED FUNDS
Seven of the biggest and best known fund groups -
Scottish Widows, Standard Life, Henderson Global Investors, Legal &
General, Invesco Perpetual, F & C and Fidelity - have most funds rated
lowest
Moneyspider.com's unique rating system
targets the good, the bad and the plain ugly.
HUNDREDS of thousands of investors with millions of pounds invested are
suffering from dismal performance as many of the UK's biggest and best known investment houses are
relegated to investment funds analyst Moneyspider.com's
(www.moneyspider.com) lowest D and E
ratings*.
The analyst's unique rating system rates from A (top) down to E (worst)
performing funds, based on a combination of one, three and five year
performance (see Editor's notes).
Scottish Widows, Standard
Life, Henderson Global Investors, Legal & General, Invesco Perpetual, F
& C and Fidelity all feature prominently in
Moneyspider.com's lowest performance ratings
(see table).
|
Fund Management Group
|
Moneyspider.com
D/E-rated Funds
|
Total number
of Funds
|
Percentage
of D/E-rated funds
|
|
Scottish Widows
|
20
|
38
|
52.63
|
|
Standard Life Inv
|
16
|
40
|
40.00
|
|
Henderson Global Investors
|
24
|
67
|
35.82
|
|
Legal & General
|
16
|
50
|
32.00
|
|
Invesco Perpetual Fund Mgrs
|
9
|
33
|
28.27
|
|
F&C Fund Mgmt
|
11
|
40
|
27.50
|
|
Fidelity Investments
|
8
|
32
|
25.00
|
Not the
Magnificent Seven - Source: Moneyspider.com/Financial Express 19th July 2007
Scottish Widows has the dubious distinction of having the largest number
- 20 out of a total of 38 - of funds with D and E ratings. In other words over
half - 52 per cent - of the investment house's products are dud rated.
Also turning in a grim performance is Standard Life Investments, with 40
per cent of its funds in the lowest ratings, while Legal & General - one of
the UK's biggest ISA providers, has nearly a third, 32 per cent, of its funds
relegated to the reject pile.
Of a total 32 UK retail funds offered by Fidelity Investments, the
world's biggest fund management house, 25 per cent carry D and E ratings.
"Investors are losing money by staying in underperforming funds - but by
viewing your ISAs, PEPs and unit trusts on Moneyspider.com
- investors can benefit from an instant analysis, updated daily, which will
show the rubbish performers compared with those often small and little known
fund managers who actually make money," said Moneyspider.com's Tony Ahearne.
"Investors are constantly
being short-changed by funds promoted by many of the largest fund management
houses, which spend heavily on 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 small and little known funds such as Rathbone,
First State Invetments UK Ltd, St James's Place and Artemis Fund Managers
turning in consistent A and B ratings," he added.
"Despite recent falls in
world stock markets as a result of the sub-prime mortgage crisis and resultant
credit crunch, longer term investment planning is a solid and proven strategy
for inflation beating returns.
"But investors are far too
often left in the dark by their fund managers. With Moneyspider.com they will know exactly how each of the funds in
their portfolio is performing, every trading day of the year," said Ahearne.
-
Ends-
Editor's notes
Moneyspider
was launched in April 2004 and is a totally independent investment
research and information company for private investors. Moneyspider
constantly monitors all 2,000 or so funds available to UK investors
and provides online personal reports that are updated on a daily
basis showing current valuation and performance of all funds in one
place.
The Moneyspider Rating® provides a unique
assessment of the performance of each fund measured against four key
parameters:
-
Sector ranking: a comparison with all other funds in the same sector as your
fund (based on the sector definitions used by the Investment Management
Association).
-
All funds ranking: a comparison with all other 2000 or so Unit Trusts and Open
Ended Investment Company funds available to UK investors.
-
FTSE 100: a comparison of the total return of the fund with the total return of
the FTSE 100 index (comprising the UK's 100 largest companies), providing a
consistent benchmark for each fund.
-
Cash: a comparison of the fund's performance with the return from an equivalent
amount deposited in a 90 day non-high interest access account.
Moneyspider's unique computer system calculates
the results, with specific weightings allocated to each of the four
categories, with each one analysed and compared over 1, 3 and 5
years. Although the rating is generated from a highly complex,
computer-based performance analysis, involving 34 separate
computations, it produces a simple and straightforward result;
scoring each of your funds from A (a very high rating) to E (a
distinctly poor rating).
Behind these easy-to-understand ratings is a
percentage score which is calculated to four decimal points. Each
day Moneyspider's system calculates this percentage score for every
single one of the 2000 or so funds on our database, thus providing a
comprehensive ranking for all funds. The 'Rank in Sector' for each
fund on the Moneyspider Report, is based on the ranking of these
percentage scores.
Moneyspider is an appointed representative of
Anthony, Bryant & Company (Investment Consultants) Limited of 25
Eccleston Square, London SW1V 1NS, which is authorised and regulated
by the Financial Services Authority. The contents of this press
release are not intended, and should not be construed as, advice, a
recommendation or as an inducement to buy or sell any investment.
Moneyspider relies on information regarding investments that is
provided by third parties and accepts no liability (including that
arising from negligence) for the accuracy of such
information.
A DAVID ANDREWS MEDIA LTD RELEASE June 2007
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