Failing to Measure Up Is $422 Billion Stock Pickers' Crisis
- Active managers in worst performance since 1999 versus S&P 500
- Investors responding by pouring money into index funds
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You don’t have to look far to explain why investors are yanking money from mutual funds run by stock pickers.
Only 9.5 percent of actively managed large-cap domestic equity funds beat the S&P 500 Index in the five years ended Aug. 31. That’s the worst five-year performance since 1999, according to data from Morningstar Inc.