Underperformance Rife Among Active Fund Managers By Chris Flood Writing for the FT
Almost three-quarters of actively managed US large-cap funds failed to outperform the S&P 500 over the past three years, according to an analysis by Standard & Poor’s. S&P has constructed a scorecard that summarizes the performance of active managers in different categories across one, three and five years compared with a relevant benchmark. The study calculated average returns for each fund group weighted by the size of each fund constituent. …