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.
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