<ul class="summary-list"><li><keyword id="3080156" type="PERSON" weightage="60" keywordseo="Bestinvest">BestInvest</keyword>, an online investment platform, just released their twice-yearly "<keyword id="10799202" type="UNKNOWN" weightage="60" keywordseo="spot-the-dog">Spot the Dog</keyword>" report.</li><li>The report analyses the worst-performing funds across different sectors.</li><li>These are the five firms that had the most assets under management in the list.</li></ul><p>Even the biggest names in asset management can get it wrong and BestInvest just called out some of the top losers.</p><p>In its twice-yearly 'Spot the Dog' report, the online investment service names and shames the top underperforming funds and firms, and <keyword id="365425" type="COMPANY" weightage="60" keywordseo="Invesco">Invesco</keyword> has topped the list for the sixth time in a row.</p><p>"The top slot in Spot the Dog continues to be held by Invesco with 11 funds totalling £9.2 billion. Four of these funds are Tibetan Mastiff-sized beasts," the report said.</p><p>However, the report, which doesn't win any popularity contest among fund managers, does note that Invesco's number of funds that made the list has fallen this time.</p><h2>What is a 'dog fund'?</h2><p>So how does BestInvest identify the funds that fall into this somewhat cruel category using two filters?</p><p>First, it filters by fund universe to identify "those that have failed to beat the benchmark over three consecutive 12-month periods," the report said.</p><p>The benchmark chosen by BestInvest is determined by the sector the fund, designating one that operates in an index that "represents the overall movements in the market that the fund operates in," it said.</p><p>This highlights those that have consistently underperformed and allows the research to remove those that "may simply have had a short run of bad luck," it added.</p><p>Secondly, the funds must have underperformed the benchmark by 5% or more over the entire three-year period of analysis.</p><h2>The Kennel Club</h2><p>These are the firms with the most assets under management, which made the list because of their "dog funds":</p><h3>1. Invesco</h3><p>For the sixth time running, Invesco has landed the top "dog" spot, with 11 funds making the list, worth £9.2 billion in total. Admittedly, this is down from 13 funds valued at £11.4 billion from the last report.</p><p>Two of the firm's funds were repeat offenders on the list: Invesco's UK Equity High Income and UK Equity Income funds, delivering -21% and -19% respectively over a three year period compared to the benchmark.</p><p>But, in the firm's defence these funds were only recently handed to new managers, "who are now tasked with turning them around," the report said.</p><p>Moreover, Invesco has gone through a broad shakeup over the last year after the appointment of a new chief investment officer, Stephanie Butcher.</p><p>"This is clearly a work in progress," the report added.</p><h3>2. <keyword id="34757" type="PERSON" weightage="60" keywordseo="Jupiter">Jupiter</keyword></h3><p>The UK-based firm Jupiter leapt up the rankings from ninth to second place in this report following its July 2020 acquisition of Merian Global Investors, making it "rescue home for two sizeable beasts," the note said</p><p>The now enlarged group oversees 8 "dog funds", totalling £4.1 billion of assets. The biggest of these is the Merian North American Equity fund, which has seen a -14% return in the last three years compared to the benchmark.</p><h3>3. St. James Place</h3><p>St James's Place's (<keyword id="282529" type="ORGANIZATION" weightage="60" keywordseo="SJP">SJP</keyword>) in-house fund range has frequently "lurked near the top spot in the hall of shame" and sits in third position with four funds totalling £4 billion, the report said.</p><p>The number of SJP funds that made this edition has halved since the last with the SJP UK High Income fund, previously managed by fallen star <keyword id="2498128" type="PERSON" weightage="60" keywordseo="Neil-Woodford">Neil Woodford</keyword>, escaping the shaming.</p><p>The SJP Global Smaller Companies fund was one of this edition's biggest losers in the Global sector, coming fifth in that particular list and trailing the benchmark by -32%.</p><h3>4. <keyword id="133746" type="COMPANY" weightage="60" keywordseo="Schroders">Schroders</keyword></h3><p>Schroders took this edition's fourth place after it number of funds to make the list rose to 11, with an increase of £4 billion in asset.</p><p>Three of the Schroder's included are managed by its QEP team, the report highlight, who use a "systematic, data driven investment process."</p><p>Both the Schroder European Recovery and Global Recovery funds - which target undervalued companies - made the list, underperforming the benchmark -22% and -33% respectively. These, and the firm's income funds <keyword id="35175" type="ORGANIZATION" weightage="100" keywordseo="investing">investing</keyword> in the US, Europe and globally, struggled in the 2020 environment where 'growth' stocks significantly outperformed.</p><p>These growth sectors include technology and communications services which have been the biggest 'COVID-winners', like video-conferencing software Zoom and EV company Tesla.</p><p>Therefore, growth strategies largely left funds targeting undervalued companies or dividend-generating businesses lagging in the dust during 2020.</p><p>However, if the global economy recovers as most banks are forecasting, these 'recovery' or 'value' plays could catch-up, making significant gains.</p><p>Of note, the report excluded the £3.3 billion 'dog fund' managed by the firm in its joint venture with Lloyds Bank.</p><h3>5. <keyword id="188135" type="COMPANY" weightage="60" keywordseo="JPMorgan-Asset-Management">JPMorgan Asset Management</keyword></h3><p>JPMorgan's inclusion in the top five came down solely due to the JP Morgan US Equity Income fund with its huge  £3.2 billion in AUM, which fell -27% below the benchmark, the report said.</p><p>Unfortunately for JPMAM, the fund has been underweight technology stocks in a period when companies like FAANG and tech cult names like Tesla have been market leaders, as many tech companies do not pay dividends.</p><p>But, like Schroders, this could turn around if value sectors like Banks and energy - which are the main dividend payers - catch up on any economic recovery.</p>

BestInvest calls out the top 5 worst performing asset management firms, with Invesco taking pole position for the sixth time running

<ul class="summary-list"><li>Nvidia posted stellar numbers after Wednesday's closing bell.</li><li>The stock surged 14% in premarket trading, putting it on course to boost its value by $240 billion.</li></ul><p><a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> reignited the tech rally after posting stellar earnings  that proved why it's <a target="_blank" href="https://www.businessinsider.com/nvidia-just-showed-world-ai-daddy-now-chips-revenues-2024-2">become an AI darling</a> over the past 14 months.</p><p>The chipmaker's earnings-per-share and revenues for the final quarter of 2023 smashed Wall Street's expectations, while CEO Jensen Huang flexed his muscles after those figures were published by sharing a bullish forecast for the company's future.</p><p><a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-surges-blowout-sales-report-pushing-us-futures-higher-2024-2">Nvidia shares popped</a> about 14% in premarket trading. If those gains hold up after the opening bell, Nvidia's total valuation will balloon by $240 billion to just under $2 trillion, by Business Insider's calculations.</p><p><a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-surges-blowout-sales-report-pushing-us-futures-higher-2024-2">Stock futures</a> also surged ahead of the opening bell. The benchmark <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> was on pace to climb 1% and the tech-heavy <a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> looked set to start the day's trading 2% higher. Meanwhile, Japan's flagship <a target="_blank" href="https://markets.businessinsider.com/index/nikkei_225">Nikkei 225</a> index hit a record high for the first time in 34 years.</p><p>Here's how analysts are reacting to Nvidia's latest report.</p><h2>Kathleen Brooks, XTB</h2><p>Nvidia's earnings "led to a collective relief rally across markets, so we've seen record highs in Europe and also a record high in the Nikkei," Brooks told BI. "I don't think that would have happened if Nvidia's results hadn't been so good."</p><p>"It was classic stuff — it was another monster earnings report. And it wasn't just about the earnings, although they were very strong — it was more about <a target="_blank" href="https://www.businessinsider.com/nvidia-earnings-ai-chips-demand-jensen-huang-allocate-fairly-stock-2024-2">the commentary that went with it</a>. I have rarely heard a CEO be so bullish, so committed to this theme, and so convinced that this is the future."</p><h2><strong>Dan Ives, Wedbush </strong></h2><p>"In the biggest moment for the market and tech sector in many years, the godfather of AI Jensen and Nvidia just delivered a robust quarter and guidance, crushing Street and whisper expectations," Ives said in a research note on Wednesday night.</p><p>"This was a 'game-changing moment' for the tech bulls and puts jet fuel in the tech bull market thesis," he added.</p><h2><strong>Jason Hollands, Bestinvest</strong></h2><p>"The astronomical assent of Nvidia is truly a wonder to behold," Hollands said Thursday. "Four years ago, Nvidia was valued at less than $100 billion, now it is a $1.7 trillion company, making it the <a target="_blank" href="https://www.businessinsider.com/nvidia-stock-price-jensen-huang-alphabet-amazon-magnificent-seven-charts-2024-2">fourth-largest business on the planet</a> measured by market capitalisation."</p><p>"The latest bullishness about Nvidia will give further legs to the 'Magnificent Seven' phenomena," he added, referring to the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tech-stocks-tesla-nvidia-apple-microsoft-amazon-the-magnificent-seven-2023-6">mega-cap Big Tech stocks</a> that have racked up huge gains since the start of 2023.</p><h2><strong>Russ Mould, AJ Bell</strong></h2><p>"Crisis has been averted after Nvidia smashed expectations with its latest results," Mould wrote in a note Thursday. "Markets were braced for potential disappointment given how its shares were weak in the run-up to the numbers, but a large beat on both earnings and sales has put a new rocket under the stock."</p><p>"The people who made the most money in the gold rush of the mid-1800s were the ones providing the tools to get the job done, not those hunting for the precious metal," he added. </p><p>"Nvidia is effectively playing the same role today in this tech revolution. It is at the heart of a major structural change in how we use computers, so it is no wonder investors want a slice of the pie."</p>

Nvidia is 'jet fuel' for the stock market, say Wall Street analysts

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/56fd1477dd0895342b8b477d-1617/rtr27tmf.jpg" alt="A worker scoops gold shots at Japanese jewellery brand, Ginza Tanaka's original equipment manufacturer (OEM) factory in the Chiba prefecture, east of Tokyo September 14, 2009. Gold prices erased earlier gains and fell on Monday, as the dollar rebounded on short-covering and dragged down other commodities and equities." data-mce-source="REUTERS/Yuriko Nakao" data-mce-caption="A worker scoops gold shots at Japanese jewellery brand, Ginza Tanaka's original equipment manufacturer (OEM) factory in the Chiba prefecture, east of Tokyo September 14, 2009." data-link="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0FCI62VCX5L&amp;SMLS=1&amp;RW=1562&amp;RH=859#/SearchResult&amp;VBID=2C0FCI62VCX5L&amp;SMLS=1&amp;RW=1562&amp;RH=859&amp;PN=2&amp;POPUPPN=86&amp;POPUPIID=2C04080G5TRCP" /><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0FCI62VCX5L&amp;SMLS=1&amp;RW=1562&amp;RH=859#/SearchResult&amp;VBID=2C0FCI62VCX5L&amp;SMLS=1&amp;RW=1562&amp;RH=859&amp;PN=2&amp;POPUPPN=86&amp;POPUPIID=2C04080G5TRCP">REUTERS/Yuriko Nakao</a></span></p></div><p></p></div></div>The <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>'s Royal Mint has said it will now offer people the chance to <a href="https://www.royalmintbullion.com/Gold-For-Pensions" target="_blank">buy gold bars</a> to hold in tax-efficient self-invested personal pension (SIPP) schemes.</p><p>These bars will be stored in the Royal Mint's vault, with prices fluctuating according to the live gold price. The most expensive single bar <a href="https://www.royalmintbullion.com/Products/Bars?utm_source=trm-microsite-newprodpage&amp;utm_medium=inline&amp;utm_campaign=trm-microsite" target="_blank">can be purchased for £28,286 ($41,131)</a>, which will get you one kilogram of gold.</p><p>There is also a 1% (plus VAT) charge for storing the gold, based on the daily market value.</p><p>The move follows the decision by the Financial Conduct Authority (FCA) in 2014 to make gold Bullion a "standard asset," - which means financial advisors are now allowed to advise clients to invest in gold.</p><p>The Royal Mint adds that for Revenues and Customs (HMRC) to recognise the gold, it must be in "bar or wafer" form and have a purity of "no less than 99.5%."</p><p>Here's a look at some of the gold bars available on the Royal Mint's website:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5757dad9dd089509448b47f7-842/royal mint.png" alt="Royal Mint" data-mce-source="Royal Mint" data-link="https://www.royalmintbullion.com/Gold-For-Pensions" /><p class="source"><span><a href="https://www.royalmintbullion.com/Gold-For-Pensions">Royal Mint</a></span></p></div><p></p></div></div></p><p>Chris Howard, director of bullion at the Royal Mint, said the mint's age made it a safe choice: "The Royal Mint benefits from a centuries-old reputation as a trusted bullion provider and manufacturer of coins on a global scale. The move to make Royal Mint gold bullion available for holding within pension schemes opens us up to a whole new marketplace."</p><p>However Jason Hollands, managing director of financial advisors Tilney Bestinvest, <a href="http://www.ft.com/intl/cms/s/0/458731ea-2cb2-11e6-a18d-a96ab29e3c95.html#axzz4Axs9OO2H" target="_blank">told the Financial Times</a> that there would only be "marginal interest" in the scheme from pensioners: "Most investors wanting exposure to gold will do so either through Exchange Traded Commodities, which follow bullion prices and are backed up by physical reserves, or through the prism of gold mining stocks or funds specialising in gold equities. The latter are very high risk."</p><p>Gold has proved to be a solid investment so far in 2016. As a safe haven asset, the metal enjoyed huge inflows early in the year, when crazy volatility in the global markets led investors to look for safe storage spaces for their money. As a result, its price has risen by more than 16% since the beginning of 2016.</p><p><div class="KonaFilter image-container display-table"><div><div class="image"><img style="display: block; margin-left: auto; margin-right: auto;" src="https://static-ssl.businessinsider.com/image/5757dad9dd089509448b47f8-1060/gold_price_wednesday arrow.jpg" alt="Gold_price_wednesday arrow" data-mce-source="Investing.com" data-link="http://www.investing.com/commodities/gold" /><p class="source"><span><a href="http://www.investing.com/commodities/gold">Investing.com</a></span></p></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/goldman-sachs-interview-edith-cooper-tips-2016-5">Don't walk into an interview at Goldman Sachs without doing this first</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tvZGNtMzE6fmGEHJcYiExg4AANBpiXWi" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'tvZGNtMzE6fmGEHJcYiExg4AANBpiXWi',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

The Royal Mint is letting British pensioners invest in its gold reserves for the first time

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/577cab2bdd0895182b8b4896-1422/rtr2lrv9.jpg" alt="Police officers hold back crowds gathered on the Mall, in front of Buckingham Palace, after the royal wedding of Britain's Prince William to Catherine, Duchess of Cambridge at Westminster Abbey, in central London April 29, 2011. Prince William married his fiancee, Kate Middleton, in Westminster Abbey on Friday. (ROYAL WEDDING/SERVICE)" data-mce-source="REUTERS/Oli Scarff/Pool" data-mce-caption="Investors are clamouring to get out buy are being blocked." data-link="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ1QSBYKN&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZ1QSBYKN&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;POPUPPN=5&amp;POPUPIID=2C040809LHKXZ" /><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ1QSBYKN&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZ1QSBYKN&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;POPUPPN=5&amp;POPUPIID=2C040809LHKXZ">REUTERS/Oli Scarff/Pool</a></span></p><p class="caption">Investors are clamouring to get out buy are being blocked.</p></div><p></p></div></div>M&amp;G Investments has become the third investment company to freeze withdrawals from its <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> property investment fund, amid a rush of people trying to pull money out of the market.</p><p>M&amp;G took the decision to freeze the £4.4 billion ($5.3 billion) fund late on Tuesday afternoon. It a follows similar decisions by savings and investment groups Standard Life on Monday and Aviva earlier on Tuesday.</p><p>It means a combined £9.1 billion ($11.7 billion) worth of UK property investments have now been locked in, as a result of investors trying to pull cash out in the wake of the Brexit vote.</p><p>M&amp;G <a href="http://www.mandg.co.uk/investor/funds/prices/property-fund-prices/">said in an emailed statement:</a> "Investor redemptions in the Fund have risen markedly because of the high levels of uncertainty in the UK commercial property market since the outcome of the European Union referendum.</p><p>"Redemptions have now reached a point where M&amp;G believes it can best protect the interests of the funds' shareholders by seeking a temporary suspension in trading."</p><p>M&amp;G's fund invests in commercial property - such as office buildings and shops - which is a highly illiquid asset, meaning it takes time to sell. While most property funds keep part of the money raised in cash to return to investors who want to leave, this buffer has clearly been overwhelmed by demand for cash. But M&amp;G, like Standard Life and Aviva before it, can't sell its property holdings quick enough to meet investor demand.</p><p>The investment house says the suspension will "allow the fund manager time to raise cash levels in a controlled manner, ensuring that any asset disposals are achieved at reasonable values." M&amp;G says it will review the suspension every 28 days.</p><p>Jefferies <a href="http://uk.businessinsider.com/jefferies-warns-of-repeat-of-2007-for-uk-property-as-standard-life-pauses-withdrawals-from-fund-2016-7">warned in a note on Tuesday that</a>: "2016 is shaping up to be a rerun of 2007, with real estate open-ended funds having switched from monthly to weekly valuations and cut pricing by -5% last week given the uncertainty of real estate valuation since the Brexit vote."</p><p>However, Jason Hollands, managing director at financial advisor Tilney Bestinvest, says in an email on Wednesday: "The uncertainty around Brexit is undoubtedly a challenge for the property sector but this is not a post-Lehman Brothers style moment when the whole financial system faced collapse and the supply of credit - key to property transactions - was in doubt.</p><p>"The Bank of England has set out its readiness to provide vast amounts of liquidity and interest rates look set to be cut. Talk is moving decisively in favour of a pro-growth rather than a tax-hikingg Budget."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/goldman-sachs-flags-emails-with-these-phrases-2016-6">These are the phrases that will get your email flagged at Goldman Sachs</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JmMWw3NDE67SsX7jdg192zCLe6Blqs_t" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'JmMWw3NDE67SsX7jdg192zCLe6Blqs_t',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

You Searched For "Bestinvest" and got 4 results

BestInvest calls out the top 5 worst performing asset management firms, with Invesco taking pole position for the sixth time running

Theo Golden

Nvidia is 'jet fuel' for the stock market, say Wall Street analysts

George Glover

The Royal Mint is letting British pensioners invest in its gold reserves for the first time

Matthew Nitch Smith

A £4.4 billion UK property fund stopped people withdrawing money after investors all rushed for the exit

Oscar Williams-Grut

You Searched For "Bestinvest" and got 4 results

BestInvest calls out the top 5 worst performing asset management firms, with Invesco taking pole position for the sixth time running

Theo Golden

Nvidia is 'jet fuel' for the stock market, say Wall Street analysts

George Glover

The Royal Mint is letting British pensioners invest in its gold reserves for the first time

Matthew Nitch Smith

A &#163;4.4 billion UK property fund stopped people withdrawing money after investors all rushed for the exit

Oscar Williams-Grut

A £4.4 billion UK property fund stopped people withdrawing money after investors all rushed for the exit