Cass professor: Your grandma could do better than 20% of active funds

Research looked at US, UK and Germany

A fifth of active funds erode value for investors on a long-term basis, according to Cass Business School's professor Keith Cuthbertson.

Cuthbertson, a professor of finance at Cass Business School, said he focuses his research on funds in the US, UK, and sometimes also in Germany. Speaking on a video blog for ETFmatic, a European robo-advisor, the professor said: "My work...