WM's latest survey of more than 1,000 UK pension funds shows that active fund managers continued to outperform their index tracking rivals in the volatile third quarter of 2000.

In UK equities, which currently account for 49% of the surveyed funds' £375bn (€622bn) of assets, the outperformance for the year to date is now 150 basis points, with third-quarter returns contributing 50 points to this total.