Last year is widely regarded as one of the worst years for investment returns. The classic 60/40 portfolio in which 60% is invested in stocks and 40% in bonds, recorded its worst year since 1937. Active fund managers generally had a poor year particularly in Europe where S&P Global recently found just 11% outperformed over the last year (US funds did much better).
With much of the world’s asset management industry located in London, SCM Direct decided to analyse the main share class of the Investment Management (IA) denominated UK based retail funds, comparing their performance against their benchmark. A huge data exercise - though not compared to the size of Matt Hancock’s WhatsApp messages it would appear.
