Sector report: Explaining a let-down in UK All Companies

Active management has disappointed plenty of investors recently. Over the second quarter of 2014, many active UK equity funds failed to beat their benchmark. Nigel Thomas, manager of the Axa Framlington UK Selected Opportunities fund, made the same observation; talking about his sector peers in the Investment Management Association UK All Companies sector, Thomas admitted: "We had a fairly brutal second quarter, as did many active fund managers. I think only six managers outperformed the All Share (over that period). Afterwards, things picked up again." As a reminder, the IMA UK All C...