Phillips & Drew is still top of the table for investment returns in the UK but JP Morgan Fleming Asset Management is gaining fast, according to HSBC Actuaries and Consultants.

HSBC Actuaries and Consultants, which ranked the performance for 44 UK pooled, balanced, institutional pension funds to November 30, reported that Phillips & Drew returned -6.6% for the year to date. It leads JP Morgan Fleming, on -7.3%, and Zurich Scudder (now renamed Threadneedle), on -8.2%. The median return is -11.4%. The worst performing manager put in -17.6%.