Equities  

Jupiter and Neptune plunge into RedZone

Ignis’s UK Focus fund was third in the DropZone, having underperformed its sector average by 32.9 per cent and funds from F&C, Marlborough and Lacomp also featured.

“The RedZone identifies those funds that have consistently underperformed their peers in the past three years, to encourage anyone invested in them to at least take a look and see if they ought to switch their investments into something else,” Mr McDermott said.

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A spokesperson for Scottish Widows said: “We take underperformance in any of our funds seriously. We recently repositioned our equities strategy and are beginning to see the benefits of this move across a number of these funds”.