FYI: In their efforts to deliver clients above-average returns, active fund managers will tilt their portfolios in various ways to go overweight certain assets and underweight others. They differ from passive fund managers, who aim to track the returns of certain benchmarks like the S&P 500.
Unfortunately, many active fund managers were overweight Europe during the days ahead of the UK’s EU referendum, aka the Brexit vote, which unexpectedly ended with Britons voting to leave the EU.
Regards,
Ted
http://finance.yahoo.com/news/active-managers-overweight-europe-ahead-of-brexit-002911071.html
