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Which Pension Funds Consistently Under Perform?

Figaro's Analysis of a fund manager's past performance; quantifies how much value a fund manager’s investment style has added during both favourable and unfavourable market conditions.

When the investment performance of management groups is compared, a few stand out for consistent under-performance of the Sector they trade in.

The following table quantifies the consistency and degree of under -performance. NatWest Managed Fund under-performed the Balanced Managed Sector on 100% of occasions by an average of 2.94% p.a.

Pension Provider	Consistency	% p.a.

NatWest	100	- 2.94
Scottish Provident	100	- 2.86
Scottish Mutual	98	- 2.73
Clerical Medical	100	- 2.36
Friends Provident	88	- 2.54
Equitable Life	100	- 2.18
Halifax	100	- 2.18
Scottish Life	94	- 1.95
Countrywide	88	- 2.07
Phoenix Life	96	- 1.78
Barclays Life	80	- 2.13
NPI	100	- 1.49
AIG	76	- 1.86
Canada life	90	- 1.53
London Life	86	- 1.43
HSBC	86	- 1.42
General Accident	86	- 1.37
Commercial Union	86	- 1.37
Pearl	76	- 1.49
Norwich Union	84	- 1.32
AXA	96	- 1.09
Royal Sun Alliance	88	- 1.18
Cornhill	88	- 1.14
Provident Mutual	80	- 1.25
MGM	78	- 1.05
Alba	71	- 0.91
Lloyds TSB	84	- 0.67
Prudential	82	- 0.64

Fund Performance Analysis is performed by Figaro for 48 periods ending 31st December 2009, on data supplied by Morningstar. Whilst Figaro take great care in compiling the figures and information shown, no liability can be accepted for any error or omission.

Past Performance is not necessarily a guide to future performance.