Short-term or long-term: Active funds in Europe continue to underperform - Spiva Europe Scorecard

Jonathan Boyd
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Short-term or long-term: Active funds in Europe continue to underperform - Spiva Europe Scorecard

Actively managed funds across Europe had another poor year versus their benchmarks, according to the latest Spiva Europe Scorecard covering calendar year 2019.

Key highlights include:

  • 71% of active funds in Europe underperformed their benchmarks in 2019. On an asset-weighted basis, the benchmark outperformed funds in this category by 1.5%.
  • European Equity Funds: 71% of actively managed euro-denominated pan-European Equity Funds underperformed the S&P Europe 350 over the one-year period. This number is 78% and 87% over a five and ten-year time horizon.
  •  US Equity Funds: 81% of actively managed euro-denominated US Equity Funds underperformed the S&P 500 over the one-year period. This rises to 93% and 98% over the five and ten-year time horizon.
  •  Global Equity Funds: 82% of actively managed euro-denominated Global Equity funds underperformed the S&P Global 1200 over the one-year period. This number increases over five and ten-year period to 94% and 98% respectively.
  • Emerging Markets Funds: 50% of actively managed euro-denominated Emerging Markets Equity funds underperformed the S&P/IFCI over the one-year period. This number increases to 89% and 96% over the five and ten-year time horizon respectively.

Click on the pdf image below to review the full Scorecard report:

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Jonathan Boyd
Author spotlight

Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.