Summary
NEW YORK - Most mutual fund managers failed to beat the major market indexes last year, according to a report from Standard & Poor's, reflecting a trend that shows passive investing delivers better returns over the long haul.
Fund managers lagged indexes in eight of the nine "style boxes," or investment categories, tracked by S&P. Their performance was a sharp contrast to 2003, when they beat or matched indexes in six categories. But investors should view this short-term data with a grain of salt, said Srikant Dash, S&P's index strategist.See the full content of this document
Extract
Indexes Beat Most Managers in 2004
"Why did indices outperform active managers in eight of nine style boxes this year and not last year? I have no clue," Dash said. "There is no consistency over the short t...
See the full content of this document
Sponsored links
