Tag Archives: active vs. passive

Tips and Tricks in Reading the Persistence Scorecard

Much has been written about the persistence of manager performance.  The S&P Persistence Scorecard attempts to track the status of top quartile and top half managers over specified subsequent periods.  Over the years, we have received a fair amount of inquiries from our readers regarding the computation, methodology, and interpretation of results.  This blog attempts Read more […]

Three Takeaways From the SPIVA U.S. Year-End 2016 Scorecard

S&P Dow Jones has been reporting the SPIVA® U.S. Scorecard for 15 years now.  Over the years, it has helped contribute to the active versus passive debate in a systematic and objective manner.  While some market segments or styles of active management can be cyclical in their ability to outperform, the secular trends in reported Read more […]

Active Fund Management in South Africa Continued to Struggle in 2016

Equity markets in South Africa, as measured by the S&P South Africa Domestic Shareholder Weighted (DSW) Index ZAR, increase 5% in 2016.  Aside from the GDP contraction experienced in the last quarter of 2016, conditions were generally improving in the country.  For example, the South African rand strengthened during the year and the municipal elections Read more […]

SPIVA® South Africa: Active Equity Funds Followed the Global Trend—They Underperformed

South African equity markets have once again performed poorly, especially in comparison with global equity markets.  One reason for this drab performance was that its GDP contracted 1.2% in the first quarter, although the price of gold—one of the country’s key exports—increased and the South African rand recovered somewhat with respect to other currencies. Poor Read more […]

Long-Term Underperformance of European Active Management continues to play out in the active versus passive debate.

Every six months, S&P Dow Jones Indices publishes the S&P Indices Versus Active (SPIVA®) Europe Scorecard, which seeks to compare the performance of actively managed equity funds across different categories, and in the SPIVA Europe Year-End 2015 Scorecard, we expanded it to cover more individual countries and regions.  Among the new additions are Italy, the Read more […]

Active Versus Passive Through Municipal Bonds

Municipal bond mutual funds gathered USD 2.8 billion in the four-week period ending Oct. 28, 2015, according to the Investment Company Institute, while muni bond ETFs added USD 593 million of inflows in October, according to SSGA.  Despite this low number, at the recent S&P Dow Jones Indices Municipal and Global Bond Forum, various panelists Read more […]

SPIVA Global

In recent years, passive management has had an increasingly strong foothold, with a sharp rise in assets under management (AUM). According to PricewaterhouseCoopers Asset Management’s 2020 report, the AUM of global passive investments stood at USD 7.3 trillion as of 2012, and they are expected to grow to USD 22.7 trillion by 2020. The active Read more […]

Large Cap Funds: Active Versus Passive

In the first half of 2015, investors pulled $22 billion out of large-cap core U.S. equity mutual funds, but added $19 billion to S&P 500® Index-linked mutual funds. While this confirms that active management is losing share to passive, we think there are still strong active large-cap mutual funds to choose from. According to S&P Dow Read more […]

Active Funds Win Battles But Lose Wars

There have always been select actively managed funds that beat the cap-weighted indices market, and there always will be. But trying to find these funds before they outperform is exceedingly difficult, especially across multiple asset classes and styles. In addition, the outperformers may not pay well enough given the risk.  Active managers may claim victory Read more […]

Questions and Answers from our Passive vs Active Webinar

In the last post I wrote, I mentioned that I recently moderated a global webinar for financial advisors on the topic of S&P DJI research on passive vs active.  We received 20 questions during the course of this webinar.  I thought that it would be interesting to share some of those questions from advisors and Read more […]