基金s fail savers

By Daily Mail Reporter
Updated: 00:00 BST, 2 February 2002

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WHEN did you last check the 業績／成果 of the 基金 that the nice person at your bank or 保険 company sold you?

Money Mail 研究 has 明らかにする／漏らすd that 基金s sold by some of the biggest High Street 指名するs such as Halifax, Barclays and Norwich Union are failing to 配達する the goods. These 基金s 投資するing in the 株 of UK companies turn in bad 業績／成果 month after month, year after year. They 告発（する），告訴（する）／料金 for professional 基金 管理／経営, yet fail to （警官の）巡回区域，受持ち区域 the low-cost tracker 基金s which 簡単に follow a particular 株式市場 索引.

投資家s have more than £3.5bn tied up in the poor 基金s we 名簿（に載せる）／表（にあげる） today. But our 人物／姿／数字s 明らかにする／漏らす most managed 基金s fail to （警官の）巡回区域，受持ち区域 trackers on a consistency 率ing over three and five years. And more than half cannot （警官の）巡回区域，受持ち区域 them over one year when the 株式市場 malaise has dragged trackers 負かす／撃墜する.

The biggest 基金 の中で our alsorans is Halifax Growth, which has £713m tied up in it. The 信用 目的（とする）s to outperform the FTSE All 株 索引 by 1% a year. In fact, it 終始一貫して underperforms it.

This 基金 shows no 調印するs of 改善するing - in fact it's getting worse. Over one year it comes 325 out of 328 基金s in the UK All Companies 部門.

Money Mail has drawn up its consistency （米）棚上げする／（英）提議するs with the help of 独立した・無所属 財政上の 助言者 Hargreaves Lansdown. We have looked at the month- on-month 業績／成果 of every 基金, awarding ten points for a 最高の，を越す 10% placing, nine points for the second 10% and so on 負かす／撃墜する to one point for the 底（に届く） 基金s. We divided this by 60 to come up with a five-year 普通の／平均（する） 得点する／非難する／２０.

Halifax says its UK Growth 基金 had a new 経営者／支配人, Simon Shaw, 任命する／導入するd six months ago. It 非難するs the continued poor 業績／成果 on the costs of 再編成 the 大臣の地位. It says the previous 基金 経営者／支配人 did not 投資する in 科学（工学）技術 until the end of the にわか景気 - 行方不明の the rises in 株 values and 苦しむing from the 落ちるs. This is the 根底となる mistake you might 推定する／予想する from a novice small 投資家, not a 高度に paid 基金 経営者／支配人. Halifax takes more than £10m a year in 告発（する），告訴（する）／料金s from this 基金. 投資家s have a 権利 to 推定する／予想する better.

研究 from the 協会 of 部隊 信用s and 投資 基金s, 示唆するs that 不正に 成し遂げるing 基金s tend to remain bad performers unless there is a 過激な change of 管理／経営.

But there are a few caveats. Growth 基金s - those that 投資する in 株 for their growth rather than income 可能性のある - have been out of fashion. The 株 they 投資する in have underperformed for more than two years, dragging them 負かす／撃墜する. At some 行う／開催する／段階 the pendulum will swing 支援する and the better growth 基金s will 回復する.

示す Dampier, of Hargreaves Lansdown, says: 'The 大多数 of this 名簿（に載せる）／表（にあげる） is made up of large companies which have had large tied sales 軍隊s and where there seems to be little 競争 ーに関して／ーの点でs of 業績／成果.'

He 追加するs: 'Hill Samuel UK Select Growth is now part of Scottish 未亡人s. There should be a whole rationalisation of 範囲 there 公正に／かなり soon, but they have made 広大な／多数の／重要な strides in the past nine months in building up a new team to run the money. First 明言する／公表する British is 近づく the 底（に届く）. Perhaps things will start to 改善する now that they have 雇うd Derek Lygo from Dresdener. This does appear to be a group that is keen to build a big UK presence here, and I don't think it is going to 許容する a 底（に届く） quartile 基金.'

Another 可能性のある turnaround is at M&G 資本／首都, which is now managed by M&G's 長，指導者 投資 officer Vivian Bazalgette and shows a かなり better peformance over the past year. It has risen to 293 out of 328 基金s over the past year and is 推定する／予想するd to continue 改善するing.

? Albert Holtby (pictured with his wife Kathleen and their eight-year old daughter Holly) 投資するd a lump sum of £2,000 in March 1997 into the Jupiter Income 基金, which comes の近くに to the 最高の，を越す of Money Mail's consistency （米）棚上げする／（英）提議するs. It has turned out to be a good 投資, growing to about £3,000 over the five years Albert has held it.

An IT 事業／計画（する） 経営者／支配人 from Greenock 近づく Glasgow, Albert, 52, stuck with the 基金 after its 星／主役にする 経営者／支配人, William Littlewood, left. Fortunately the new 経営者／支配人 has continued the 基金's good 記録，記録的な／記録する. Albert says: 'I had no qualms because the 基金 was 井戸／弁護士席-設立するd and it would be an 平易な 職業 to take it over.'