More than two-thirds of actively managed European stock market funds underperformed their benchmarks in the first half of the year, according to data released Tuesday.
The S&P Indices Versus Active Funds, or SPIVA, scorecard found 71% of euro-denominated European equity funds underperformed their benchmark, up considerably from the 42% that underperformed in the first half of 2020. “These figures could support the notion that active managers may perform relatively better in uncertain times,” said analysts led by Andrew Cairns.
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