Bestinvest’s latest ‘Spot the Dog’ report on the worst performing funds reveals that investors have nearly £44bn tied up in underperforming investments.

The LF Woodford Income Focus Fund is to re-open on 13 February under the Aberdeen Standard Investments brand.

Fund administrator Link, which is handling the failed Woodford funds, is making its first distribution to investors this week, with most expecting to lose a substantial chunk of their original investments.

The two founding directors of Woodford Investment Management were paid total dividends of £13.825m in the company’s most recent financial year despite a profit plunge and well publicised woes at the company.