Record S&P 500 Runs Away From Mutual Funds Trailing Index
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Fund managers, flush with $4.7 billion in fresh cash, are running out of options to catch up with the Standard & Poor’s 500 Index after trailing the measure’s record rally.
The biggest advance for the U.S. benchmark gauge since 2011 is occurring in a year when declines in small caps and technology companies have left fewer equities beating the index than any time since 1999, data compiled by Leuthold Group LLC show. The average stock measured by the Value Line Arithmetic index is up 4.4 percent this year, half as much as the S&P 500.