Sector report: Taking a forward look at US equities

The US equity market is notoriously difficult for active fund managers to outperform consistently as it is, arguably, the most efficient major stock market in the world. As a result, it poses a challenging task for advisers, fund selectors and discretionary fund managers (DFMs) to select funds and strategies to provide exposure to the sector. Within the US equity market, fund selectors have three major indices to choose as the basis of their exposure: the S&P 500 for blue chip, large-cap companies, the Nasdaq, historically home to tech and biotech businesses, or the Russell indices, t...