Actively managed funds toil against the FTSE

less than half of the actively managed pooled pension funds in the uk equity sector outperformed the ftse all-share in the second quarter

Despite the recent strong rally in equities, less than half of actively managed pooled pension funds in the UK equity sector managed to outperform the FTSE All-Share index in the second quarter. According to the Russell/Mellon Caps Pooled Pension update for the second quarter of 2003, the median return after fees for standard UK equity funds was 14.2%, compared to the All-Share, which posted growth of 14.5%. More managers beat the All-Share over one, three and five years to 30 June 2003. However, they underperformed over 10 years to that date, with a median return of 6.5% per year, vers...