Bestinvest’s bi-annual Spot the Dog report, which names and shames poorly performing funds, has revealed that investors are paying £115m in fees a year to invest in 31 ‘dog’ funds.

Investors pumped in £553 million into funds in April after pulling out £3.5 billion in March, according to latest figures out today from the fund managers’ trade body the Investment Association. 

Retail funds have seen a third consecutive month of outflows, according to the latest data from the Investment Association, the fund managers' trade body.

Investors added £43.4bn to retail funds in 2021, the second best year on record, despite the pandemic.