Investment research provider Morningstar has announced the winners of its UK 2023 Morningstar Awards for Investing Excellence which recognise long term performance.

Long-term funds domiciled in Europe had their worst year in 2022 in term of flows since 2008, shedding €130bn (£114bn).

Parmenion has added DFM portfolios from wealth manager RBC Brewin Dolphin and investment manager Morningstar to its adviser platform.

Active fund managers had the chance to “easily” beat passive funds in the first half of 2022 but failed to impress, according to financial research and investment management company Morningstar.