Active funds double returns of passives
In the chaotic sell-off of the global pandemic, and subsequent rebound, active managers outperformed...
Having been there or thereabouts for the past decade, Baillie Gifford has finally claimed the top spot in FundCalibre’s seventh annual Fund Management Equity Index, pushing three-times winner Morgan Stanley into second place.
Each year, FundCalibre’s research team identifies the asset management companies that have the most consistently strong stock-picking teams.
Looking back over the past five years, the analysis shows which companies have demonstrated they can add value for their equity investors year in, year out.
The result is the annual Fund Management Equity Index and the award for the ‘Elite Providers for Equities’ – now both in their seventh year.
Having claimed the top spot for three consecutive years, Morgan Stanley was pushed into second place this year by Baillie Gifford, whose average fund returned 82.16% more than its peers over the five years to 31 December 2020. This is the highest average five year outperformance in the history of the survey.
Ever-present in the top 10 in the past seven years, Baillie Gifford has risen to first place in the index with 15 of its 16 eligible funds outperforming across numerous stock markets. The firm was helped in no small part by Baillie Gifford American, which was the best performing fund of the year, returning 121.84% – 105.67% more than its average peer. A further four Baillie Gifford funds outperformed their sector average by 50% or more.
|Rank 2021||Rank 2020||Fund Group||5 yr ave. outperformance||% of funds outperforming||Average OCF||No. of Funds|
|4||5||T. Rowe Price|
|9||26 & 57||Premier Miton|
|10||25||Legg Mason Martin Currie|