- Despite a good environment for active US equity fund managers, less than 7% of US active equity funds have beat the market over the past decade.
- Weighted by assets, the average US stockpicker lost 21% last year, compared to the broad S&P Composite 1500’s 18% decline.
- Most bond funds did not perform well, despite having an easier time outperforming in general.
- 2022 turned out to be a poor year for active bond and real estate funds.
- High fees remain a hurdle for active management.
Yeah, about that active comeback . . .
Despite an improved environment for active management, less than 7% of US active equity funds have beat the market over the past decade, with high fees remaining a high hurdle to clear. Most bond funds did not perform well in 2022.