Outperformance of UK All Companies is appalling display of mediocrity

The fact both the FTSE 100 and All-Share outperformed the average UK All Companies' fund over 2005 i...

The fact both the FTSE 100 and All-Share outperformed the average UK All Companies' fund over 2005 is an appalling display of mediocrity at a time when groups are hiking management fees to so-called industry norms. While Lipper figures showing nine funds in negative territory over the year look encouraging at first glance, the fact more than 200 All Companies' vehicles failed to beat the All-Share is hard to defend. UK-domiciled funds, across all asset classes and geography, returned 19.93% in 2005, almost double last year's 9.5%, but less than the FTSE 100's 20.25% and the All Share's ri...