As in the SPIVA® Europe Year-End 2013 report, active GBP-denominated funds invested in U.K. equities delivered the best performance. Over a one-year period, most U.K. funds performed better than their benchmarks. However, this tremendous performance was not repeated in the international fund categories. Most global, emerging market and U.S. active funds underperformed their respective benchmarks over one-, three- and five-year time horizons.
This article was written by Daniel Ung, associate director, index research & design, S&P Dow Jones Indices.
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