Mutual funds that buy U.S. stocks just had their best ‘hit rate’ in two years, BofA says

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

But professional stock pickers are still having a tough time beating benchmarks in 2023, BofA found

Managers of mutual funds focused on large-cap stocks in the U.S. did a stronger job of beating their benchmark last month, but they’re still struggling to do so year to date, according to BofA Global Research.

The U.S. stock market broadly slumped in October, with the Russell 1000 index falling 2.5%, FactSet data show. Some investors are willing to pay higher fees for actively managed mutual funds in hopes of getting a better return than they would from less expensive passive index funds. While October marked the third straight month of large-cap active managers beating their Russell 1000 benchmark — the longest outperformance streak since mid-2022 — they tend to trail it annually.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US companies' debt cushion smallest since Q1 2021 :BofAUS companies' debt cushion smallest since Q1 2021 :BofA
Source: Investingcom - 🏆 450. / 53 Read more »