Best and worst performing default funds named

With this measure a  higher number indicates better risk-adjusted performance.

When the 0.75 per cent risk-free rate was used, on a five-year basis, Nest (0.97), Legal & General (0.97) and SuperTrust (0.93) had the best risk-adjusted performance.

Over three years the same three providers plus Willis Towers Watson, the Mercer Master Trust, and B&CE (The People’s Pension) had the best performance, with Legal & General faring best at 1.17.

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