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.

Technology funds bounced back to lead global markets over the past decade but energy funds fared badly with funds in this sector forming half of the top 10 worst performers, according to analysis by Willis Owen.