"From 1994 through 2008, the average large-cap mutual fund that was in existence for the full 15-year period (some 400 funds) posted an annualized return of 5.61%, compared with 6.46% for the S&P 500.
And because some people claim that active managers are more valuable under the circumstances of a bear market than when the markets are trending up, Standard & Poor's looked at the percentage of mutual funds that failed to outperform their benchmarks between 2004 and 2008 during the last bear market: 66.2% of all domestic funds, 71.9% of all large-cap funds, 79.1% of all mid-cap funds and 85.5% of all small-cap funds."
Monday, March 22, 2010
The futility of active management - Investment News
The futility of active management - Investment News:
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