As much as £400bn could be held in 'dinosaur' funds, according to Hargreaves Lansdown, as investor inertia sees cash left languishing in stagnant products.
Hargreaves said a huge sum of investor capial has been left in products that were popular over the last few decades but have since been outplayed by modern funds. The funds in question were launched in the 1970s, '80s and '90s and have specialist structures that, Hargreaves argues, do not meet most modern investors' needs. Hargreaves' senior analyst Laith Khalaf said: "Older offerings have often failed to keep up, because they were built for a bygone era. In many cases, providers aren't even promoting them anymore, so upgrading them is likely to be a low priority for these companies....
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