Wealth adviser Bestinvest's latest Spot the Dog report of underperforming funds found that the sector with the most underperformers was North America, and the fund with the poorest performance was Investec American (GB0032033341). This fund has failed to beat its benchmark over three consecutive 12-month periods and underperformed its benchmark by 10 per cent or more over three years to the end of 2012. It is also the poorest-performing fund in the North America sector over three years, and also among the 25 per cent of poorest-performing funds over one and five years.
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