Active funds are continuing to underperform relative to their historic average despite an uptick in top-quartile returns in Q4 2017, according to BMO Global Asset Management.
The Q4 quarterly FundWatch survey conducted by the BMO GAM multi-manager team found only 1.2% of funds returned consistent top-quartile performance over three years versus the historic average of between 2% and 5%. However, this was 0.4% higher than the 0.8% that achieved consistent performance in Q3 last year. Among the Investment Association sectors, the IA £ Strategic Bond sector delivered the most consistent top quartile returns with 4.6% of funds achieving this, closely followed by 4.4% for the IA UK Smaller Companies sector and 4.2% for the IA Japan sector. The survey also lo...
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