Some investors might wonder what the point is of trying to outperform the US market when simply buying an S&P 500 tracker has delivered pretty substantial returns.

But this week David Thorpe, Dave Baxter and Joseph Wilkins discuss the few active outperformers in the US market and how they have achieved this.

They also discuss whether portfolio managers are losing faith in Japan, which just a few months ago seemed to have made a resurgence, and they discuss the pros and cons of using specialist tech funds in light of Arbuthnot Latham's decision to buy a semiconductor fund.

The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.

It is available on Spotify, Apple Podcasts, Google Podcasts, Acast and most other major podcast platforms.