No Shockers From Midyear SPIVA
The midyear S&P Indices Versus Active (SPIVA) domestic scorecard provides another example of why (at least when it comes to the overall results of active management relative to appropriate benchmarks) the past is, in fact, prologue.
Let’s review some of the highlights from the June 2015 scorecard. The table below shows the percentage of active managers that were outperformed by their benchmarks over the one-year and 10-year periods ending June 30:
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