Active Management Verdict: Only 13% of US Large-Cap Funds Beat Benchmarks Over a Decade
New performance data renews pressure on the stock-picking industry as fee compression, index dominance and concentrated mega-cap leadership compound the hurdle for discretionary managers.
Just 13% of US large-cap stock-picking funds outperformed their benchmarks over the past ten years, according to the latest scorecard data. The result intensifies the secular flow shift toward passive vehicles and sharpens scrutiny of expense ratios across the fund complex.
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