Mullaney Keating & Wright

Independent Investment Professionals


active fund management scorecards

S&P Dow Jones Indices has just published two reports on the ability, or more accurately inability, of active mutual fund managers to beat their respective index benchmarks. The first, spiva-mid-2016, reports that very small fractions of active managers are able to beat their benchmarks over the one, five and ten year periods analyzed.  The second, persistence-scorecard-aug-2016, reports that “only 0.78% of large-cap funds and no mid-cap or small-cap funds managed to remain in the top quartile at the end of the five-year measurement period.”