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Fund managers had a tough year beating the market. This year is unlikely to be easier

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While the numbers have yet to be finalised, 2019 seems to have been a particularly bleak year for active fund managers, with estimates by Bank of America that fewer than a third were able to beat their benchmarks. Even clearer is that the longer the time frame, the more prone fund managers are to underperforming.In the last 15 years, for example, 92 per cent of large-cap funds were outperformed by the S&P 500. Investors have voted with their feet: in the year up to June 2019, money was pulled…

Source: South China Morning Post