FTSE 100 could sort out stockpickers from the pretenders

Stockpickers are the toast of the town but it is far from clear how many of them are really generati...

Stockpickers are the toast of the town but it is far from clear how many of them are really generating returns from this activity, rather than having a big bet on mid and small caps. The concept of stockpicking managers is naturally one the funds industry wants to see succeed because it supports two assertions that give it a reason for existing: active management outperforms and it is possible to get decent long-term returns from equities. These two beliefs have been severely challenged in the last few years. With the collapse of the bull market equities ceased to be a one-way bet and the...