At Harris Associates, we believe «closet indexers» are primarily to blame for the average active manager underperformance. (harrisassoc.com)
There were only two areas in the global market where the average active manager outperformed over the previous 10 years, and they didn't do it by much. (indexologyblog.com)
But the cost of running an active strategy means that the average active manager will typically underperform an index appropriate to his investment style, as our SPIVA reports have long demonstrated. (indexologyblog.com)