Investors clueless about portfolio performance
Most investors do not know how their investments have performed in the last year, new research shows.
Data from Fidelity International, the UK's largest mutual fund manager, also reveals that almost three investors in five (57 per cent) do not know the value of their investments to within £500.
And as to what would make investors actually look at their products, Fidelity's data shows that for many, a large move in markets or bad investment news would see them check out their portfolio.
"Not only do many investors fail to review their portfolios on a regular basis, but many also do so at the wrong time," said Doug Naismith, managing director of European Personal Investments at Fidelity International.
"It is important that investors look at the performance and make-up of their portfolio on a frequent basis and not just as a knee-jerk reaction to market volatility or when they need access to their money.
"It is no surprise to see from our research that more than half of investors [53 per cent] are unaware of how all of their investments have performed over the last twelve months. This suggests that many could be missing out on substantial returns, or conversely, sitting on losses they are unaware of."
Some 24 per cent of investors review their portfolios just once a year, while another 13 per cent check out their investments no more than twice.
And when they do look, investors tend not to spend too long investigating, with one in five spending no more than five minutes looking at performance, Fidelity reveals.
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