Most investors still use actively managed funds.
In other words, they pay a fund manager to buy and sell the right stocks at the right time.
But, in general, how well do active funds perform?
The answer is worrying for investors.
S&P Dow Jones Indices keeps a running scorecard called SPIVA.
SPIVA stands for S&P Index versus Active.
Worryingly for investors, SPIVA shows that most active managers underperform most of the time.
What’s more, even those funds that do outperform rarely do so for long.
So, are there any signs that active fund performance is improving?
In recent years, the answer is a definite no.
In fact, it appears to be getting worse.
And lady luck is unlikely to be able to help.
