The London Times this weekend highlighted a great report by Bestinvest, the Indepedent Financial Advisor, on the huge growth in the amount of money sitting in underperforming funds:

"The number of poor-performing, or “dog”, investment funds
has nearly doubled in the past 18 months, according to a new study.
Bestinvest, the independent financial adviser, says that about £13 billion
of investors’ money is languishing in these funds, compared with just £3.3
billion 18 months ago. There are now 72 dog funds, almost twice as many as
there were in January 2006. To qualify for dog status, a fund must have
underperformed its benchmark in each of the past three years and by at least
10 per cent over that period." You can download the full report by clicking here.

This is what Covestor is all about changing. Money sitting in expensive underperforming funds and not invested alongside brilliant self directed investors- doing it with their own money. If you have examples of poor performing funds let us know and we will do what we can to name and shame them on the site