Active fund managers underperform in Europe but not UK, S&PDJI
Active versus passive fund manager debate in Europe furnished with data from S&P Dow Jones Indices, which offers European version of Spiva scorecard
UK sterling-denominated actively managed funds have overwhelmingly outperformed their benchmarks during the past five years, while those denominated in euros are far in the opposite direction, according to the first Spiva (S&P Indices Versus Active Funds) scorecard for Europe.
As equities rebounded in 2013, prompting a 21% gain in the S&P Global 1200 and 19% rise in the S&P UK index, the performance of active managers in European and International equity funds lagged.
"In the UK, small caps
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