solThe funds managed by Invesco, Woodford Investment Management and Columbia Threadneedle were labeled "dogs" in the last two-year analysis of British money managers by the Bestinvest broker.
The "spot the dog" long-term study exposes the less performing funds considering the performance of a reference index for three consecutive years. To qualify, a fund must have underperformed its benchmark by five percentage points or more for the entire period.
Since the global financial crisis of 2008, low interest rates and the press of central bank money have pushed higher stock prices, helping to mask the wrong decisions.
However, the dissolution of "quantitative easing" is removing this smokescreen …