Real returns are what matter

So how should you measure the performance of a fund? Relative to its own benchmark or a sector avera...

So how should you measure the performance of a fund? Relative to its own benchmark or a sector average, use some kind of percentile ranking, or maybe come up with a system that the average investor will understand? In my mind, the current system of talking about 'quartiles' is developing into a nonsense language that is doing no one any favours. As an industry, we are in a phase where many funds have lost money, and it is going to be quite a long time before they get back into positive territory over a meaningful period (three to five years). So, we all have a challenge: do we persist...