"Nonetheless that does still mean a large chunk of active funds have outperformed an index tracker over the last decade, which gives active fund investors some cause for optimism," he said.
"So does the fact that the success of active managers is not uniform across fund sectors, which furnishes investors with the opportunity to pick and choose which parts of their portfolio they populate with active and passive strategies.”
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AJ Bell's last report showed that just a third of active equity funds beat a passive alternative last year, with active Global and North America sectors lagging particularly behind.
sally.hickey@ft.com
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