Almost 90% of active UK equity fund managers beat the benchmark index last year, far outstripping the performance of other active managers, an S&P Indices report has found.
According to a new report from Spiva (S&P Indices versus Active Funds), S&P's United Kingdom benchmark index bettered active managers only 11% of the time during 2013; over three years the figure was 23%; and over five years 14%. By contrast, S&P's Europe 350 equity benchmark outperformed active managers 61% of the time during 2013, 77% of the time over the past three years, and 64% during the past five years . Tim Edwards, director of index strategy at S&P Dow Jones Indices in London, said the better performance in the UK could be due to the dominance of the largest five UK companies...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes