FYI: Just when nearly everyone had counted out active managers, they are punching above the market again, but be wary of performance enhancers.
U.S. large-cap, actively managed equity mutual funds are on their hottest streak in years. July was the fifth consecutive month that more than half of the funds outperformed passive index funds. That was the longest streak of market-beating performance since at least 2009, according to a report this week from Bank of America Merrill Lynch. What's more, large-cap U.S. equity funds have outperformed the indexes in nine of the past 12 months.
Regards,
Ted
https://www.bloomberg.com/gadfly/articles/2017-08-04/mutual-fund-hot-streak-has-an-actively-managed-asterisk
