Smart Women Love Money by Alice Finn

Author:Alice Finn
Language: eng
Format: epub
Publisher: Regan Arts.

Active Management Just Doesn’t Work—Anywhere

Percentage of Active Public Equity Funds That Failed to Beat the Index

Five Years as of December 2012

Figure 4.1

Source: Standard & Poor’s Indices Versus Active Funds Scorecard, year-end 2012. Index used for comparison: US Large Cap—S&P 500 Index; US Mid Cap—S&P MidCap 400 index; US Small Cap—S&P SmallCap 600 Index; Global Funds—S&P Global 1200 Index; International—S&P 700 Index; International Small—S&P World ex. US SmallCap Index; Emerging Markets—S&P IFCI Composite. Data for the SPIVA study is from the CRSP Survivor-Bias-Free US Mutual Fund Database. S&P data © S&P 2016 Dow Jones Indices, its affiliates and/or licensors. All rights reserved.

*The reason this is lower is due to the fact that these active managers actually had significant holdings in emerging market stocks, which is a different asset class, therefore being compared to the wrong benchmark!

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