发布网友 发布时间:2022-05-17 09:19
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热心网友 时间:2023-10-17 02:40
Investors would be wise to look at the long-term performance ofhighly rated mutual funds, and the sustainability of outperformanceversus their peers and benchmarks. Standard & Poor ’s provides statisticalanalysis of mutual fund performance for free to both retail andprofessional investors, via their web site at www.usspindices.com .S&P provides analysis of mutual fund performance in their “S&PIndices Versus Active Funds (SPIVA®) Scorecard,” as well as in their“Persistence Scorecard” report.The most recent Year-End SPIVA Scorecard foreshadows a ratheralarming trend of underperformance by active managers in recentyears. As shown in Table 3.1 , the performance of actively managedfunds in 2012 lagged behind the passive benchmark indices for 63.25percent of large-cap funds, 80.45 percent of mid-cap funds, and 66.5percent of small-cap funds. These managers fared even worse overthree- and five-year time horizons.