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Tuesday, June 24, 2008
Actively Managed Funds Continue to Lag
In today's Globe and Mail there is an article pointing out that fund managers continue to do poorly compared to index funds. There really isn't any reason to invest with active managers, and the data continues to support that. Of index funds, I personally like the TD Efunds due to their low MERs and green approach of not mailing out paper. Also the iShares exchange traded funds are extremely good value if your investing patterns cause the brokerage fees to not be an issue. ING's Streetwise Funds are ok too but they do have MERs close to double what they should be.
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It's hard to believe that I read the article you pointed to correctly. It seems that only 8.2% of active managers beat their index over a 3-month period. By sheer randomness you'd expect 30-40% to beat their index over so short a period. This is a very damning result in a down market where apologists claim that active managers shine.
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