Majority of active UK equity funds beat benchmarks over past year

The bi-annual S&P Indices Versus Active Funds (SPIVA) Europe Scorecard, which measures the performance of actively managed European equity funds against the performance of their respective S&P Dow Jones benchmark indices, found funds in the UK space achieved asset-weighted returns of 24.2% over the one-year period to mid-2017, versus 17.6% for the S&P United Kingdom BMI. In particular, UK small-cap funds were the "real star performers", returning 38.3% compared with 22.7% for the S&P United Kingdom SmallCap index. In the wider European market, 50.9% of euro-denominated European equity...