The following is an excerpt from JOHN KIMELMAN | September 19, 2016 | Barrons.com |
I came across two pieces of news Monday that represent two sides of the same coin.
A piece in the Financial Times reported the results of the latest S&P Global’s semi-annual survey of the returns of actively-managed equity funds around the globe.
The headline statistic: nine out of ten US equity mutual funds failed to beat the market over the past year, when their returns are calculated after fees are subtracted.
“The semi-annual report on fund manager returns…has long been depressing reading for professional stockpickers,” writes the FT. “But the scale of the disappointment in the latest figures is likely to fuel further outflows from an industry that is already under pressure.”
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