Its a losing game
You would imagine higher volatility and the normalisation of rates would create an environment where active managers finally reverse the trend , what has been a painful couple of decades for the group.
51% of them still underperformed the S&P YTD, which one would say is less bad than how it was. But as an investor are you paying them to be less bad?
![Its a losing game](https://ussnsimg.moomoo.com/1663597211129-70042950-android-org.png/bigmoo)
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