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LSEG Lipper reports actively managed funds and ETFs underperformed to end June, 2024


LSEG Lipper’s latest research finds that the majority of actively managed funds and ETFs globally were not able to beat their respective fund manager benchmarks between July 1, 2023, and June 30, 2024.

The overall average relative performance of ESG-related equity funds versus their fund manager benchmarks (-4.90 per cent) was lower than for their conventional peers (-3.19 per cent), the firm says.

The overall average relative performance of ESG-related equity funds versus their Lipper assigned technical indicators (-4.90 per cent) was also lower than for their conventional peers (-3.19 per cent), according to the firm.

“For the evaluation of the relative performance of actively managed funds versus an index/benchmark, one needs to take fees and expenses into account since indices and benchmarks are calculated without taking any fees or expenses into consideration. The average total expense ratio (TER) of all equity funds covered by this report was 1.545 per cent. While the TER for those funds which were compared against their respective fund manager benchmark was 1.480 per cent,” the firm writes. “With regard to the overall results of this study, it can be concluded that the equity markets are quite efficient despite the fact that the majority of the assets under management are held by passive products.”

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