21.09.2017 - Studies

Beyond chance

by Agnieszka Gehringer

Actively managed funds often find it difficult to beat the broad market in the long term. However, if you identify the funds with a consistent investment strategy, you can significantly increase the chance of success by outperforming the market yield in the long term.

Numerous empirical studies show that in the long run only a minority of active fund managers succeed in beating the broad market. Many of the studies come to the conclusion that if the period under review is extended, an increasing number of actively managed funds cannot beat their benchmark, however defined. If, however, the funds are identified with a consistent investment strategy, the chance of success – defined as performance above the market yield in the long term – can be significantly increased.

Please note: This study is available in German only.

Download study as PDF (Reading time ca. 10 min)

Legal notice

The information contained and opinions expressed in this document reflect the views of the author at the time of publication and are subject to change without prior notice. Forward-looking statements reflect the judgement and future expectations of the author. The opinions and expectations found in this document may differ from estimations found in other documents of Flossbach von Storch AG. The above information is provided for informational purposes only and without any obligation, whether contractual or otherwise. This document does not constitute an offer to sell, purchase or subscribe to securities or other assets. The information and estimates contained herein do not constitute investment advice or any other form of recommendation. All information has been compiled with care. However, no guarantee is given as to the accuracy and completeness of information and no liability is accepted. Past performance is not a reliable indicator of future performance. All authorial rights and other rights, titles and claims (including copyrights, brands, patents, intellectual property rights and other rights) to, for and from all the information in this publication are subject, without restriction, to the applicable provisions and property rights of the registered owners. You do not acquire any rights to the contents. Copyright for contents created and published by Flossbach von Storch AG remains solely with Flossbach von Storch AG. Such content may not be reproduced or used in full or in part without the written approval of Flossbach von Storch AG.

Reprinting or making the content publicly available – in particular by including it in third-party websites – together with reproduction on data storage devices of any kind requires the prior written consent of Flossbach von Storch AG.

© 2024 Flossbach von Storch. All rights reserved.