A new study has found that over the longer term active funds have - on average - outperformed passive funds despite the fact that just 1 in 3 active funds have beaten passive funds this year.

Bestinvest’s annual Spot the Dog report has named and shamed a record 150 investment funds that have performed dismally over the past three years - a 65% increase from the 91 funds in the last report and the highest number on record.

The average stocks and shares Isa fell by 13.3% during the 2019/20 tax year.

Biotechnology & Healthcare was the top performing investment company sector over the past decade, according to data from the Association of Investment Companies.