UK - Actively managed pension funds outperformed index funds in most of the major markets last year, research from the WM Company shows.
The study was based on the WM All Funds Universe composed of 1009 UK pension funds with total equity holdings of £291bn as at December 31, 2001.
Head of research Alastair MacDougall said: “Our study shows that 2001 was a good year for active investors, who in aggregate managed to outperform the indices in the UK, US, Europe [ex-UK] and Japan.
“Their relative performance was superior to index funds, but long-term figures continue to show that, on average, passive managers perform better.”
The study – A comparison of active and passive management – builds on previous research work and includes 10 years of data for the UK market.
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