Asset Management

European stock-pickers wrongfooted in market rout

Morningstar research finds active funds’ performance went from bad to worse during the second half of last year

Annus horribilis: active stock-pickers' performance declined in 2018
Annus horribilis: active stock-pickers' performance declined in 2018 Photo: Getty Images

European fund managers’ performance got worse in the second half of 2018, despite the return of volatile conditions they often claim are necessary to prove their mettle.

The proportion of Europe-domiciled active funds beating their index-tracking counterparts during the previous 12 months declined from 37.4% on June 30, to 31.6% on December 31, according to the latest report from Morningstar, the fund analyst.

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