In January 2026, Pictet Longevity was the worst-performing fund, dropping over 10% due to sharp declines in key holdings. Morgan Stanley US Growth Fund was the largest among the bottom 10 performers, with many funds on the list coming from the India equity Morningstar Category.

Funds focused on India dominated the list of worst performers at the beginning of the year, following a weak 2025. The Morningstar India Index saw declines of nearly 6% in US dollars, 3% in Indian rupees, and 7% in GBP, making it the worst start to the year since 2011.

Pictet Longevity, with assets of £348.8 million, fell 10.36% in January and 8.79% in 2025. The Wellington FinTech Fund, valued at £42.8 million, dropped 10.02% in January and nearly 12% in 2025.

Comgest Growth India, valued at £43.2 million, fell just under 10% in January and 12.42% in 2025. The Alquity Indian Subcontinent Fund, worth £39.5 million, lost just under 10% in January and nearly 12% in 2025.

The Stewart Investors Indian Subcontinent All-Cap Fund, with £318 million in assets, fell 9.26% in January and 16% in 2025. The UTI India Dynamic Equity Fund, valued at £612.9 million, dropped 9.03% in January and 11.01% in 2025.

The Morgan Stanley US Growth Fund, with assets of £2.2 billion, lost 8.88% in January after gaining 11.15% in 2026. The Invesco India Equity Fund, valued at £656.3 million, declined 8.86% in January 2026 and 17.57% in 2025.

The Ashoka WhiteOak India Leaders Fund, with assets of £23.3 million, fell 8.48% in January and 7.72% in 2025. The FSSA Indian Subcontinent All-Cap Fund, valued at £25.4 million, dropped 8.46% in January and 12.14% in 2025.

Read more at Morningstar: The Worst-Performing Funds in January 2026