Active managers fail to beat market indices

The usual trend whereby active managers outperform their benchmarks in a falling market has been broken by the totally unexpected nature of the fall in global markets, research from HSBC Asset Management shows. The group, which looks into the active versus passive returns of global funds, noted that following the events in September, most markets fell and active managers underperformed. Alison Savage, head of marketing and business development at the group, said: 'Over the past 12 months finding an active manager that has outperformed their benchmark has been easiest in the UK where the...