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Tag Archives: active management

Jan 5, 2023

Indexing’s Evolution in Indian Markets

Indexing, also known as index-based or passive investing, has been slowly but steadily growing and transforming asset management and financial markets in India. For more than a decade, there has been a strong preference for actively managed funds among Indian investors, and understandably so as historically these were the only financial products that dominated the…

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Dec 7, 2022

Exploring Active vs. Passive in Latin America

How do active managers in Latin America stack up to their benchmarks? Discover the key takeaways from the latest SPIVA Latin America Scorecard with S&P DJI’s Tim Edwards and Ericka Alcántara.

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Oct 19, 2022

Size, Sectors and Skew: Observations from the SPIVA MENA Mid-Year 2022 Scorecard

The semiannual S&P Indices Versus Active (SPIVA®) Scorecards1 measure the performance of actively managed funds against their corresponding benchmarks in various markets around the world. According to the latest SPIVA MENA Mid-Year 2022 Scorecard, the majority of MENA active equity managers outperformed their benchmarks, despite a turbulent second quarter and geopolitical tensions. Performance across the…

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Oct 18, 2022

The Importance of Being Indexed

One of the benefits of indexing is its low cost relative to active management. As indexing has grown, investors have benefited substantially by saving on fees and avoiding active underperformance. We can estimate the fee savings each year by multiplying the difference between the average expense ratios of active and index equity mutual funds by…

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Oct 5, 2022

This Time It Was Easy: SPIVA Canada

Each time SPIVA® results are released, we are naturally asked to explain why a certain portion of active managers underperformed in any given fund category. Sometimes, management strategies and market moves defy simple explanations, but at other times an explanation can be plain as day. For actively managed equity funds in Canada, a recent turn…

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Oct 5, 2022

Dissecting the Divergent Performance among Latin American Fund Managers

Lessons from the SPIVA Latin America Mid-Year 2022 Scorecard The semiannual S&P Indices Versus Active (SPIVA®) Scorecards1 measure the performance of actively managed funds against their corresponding benchmarks in various markets around the world. According to the latest SPIVA Latin America Mid-Year 2022 Scorecard, the YTD performance among active managers across Latin American countries varied…

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Sep 29, 2022

Shooting Hoops with Michael Jordan: An Allegory

I am not a particularly good athlete, and perhaps the sport at which I am most inept is basketball. Despite that, let’s assume that I somehow challenge Michael Jordan, arguably the best player in the history of the game, to a free throw shooting contest. What are my chances of success? (Stay with me, I…

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Sep 6, 2022

Tucking in to the SPIVA Australia Mid-Year 2022 Scorecard

The semiannual S&P Indices Versus Active (SPIVA®) Scorecard1 measures the performance of actively managed funds against their corresponding benchmarks in various markets around the world. The latest Australian edition, the SPIVA Australia Mid-Year 2022 Scorecard, provides a number of interesting insights about the performance of active versus passive across active fund categories. Although the long-term…

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May 3, 2022

Results from the SPIVA India Year-End 2021 Scorecard

The S&P Indices Versus Active (SPIVA®) Scorecard,1 published semiannually, measures the performance of actively managed funds against their corresponding benchmarks. The latest SPIVA India report provides a number of interesting insights about the performance of active versus passive across active fund categories. 1. Long-Term Outperformance of Active Funds Was Difficult Indian bond funds had a…

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Apr 26, 2022

Growth Managers’ Perfect Storm

Anyone familiar with our SPIVA reports will realize that most active managers fail most of the time. In 21 years of SPIVA data, a majority of large-cap managers underperformed the S&P 500 18 times; the most recent of the three exceptions came in 2009. Even in that context, 2021 was a year of above-average difficulty,…

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