According to data from Bank of America, large-cap US mutual funds have just reported their worst quarterly performance since at least 1998 when the bank started to monitor the industry’s performance.
BoA’s report on the subject (a copy of which has been viewed by ValueWalk) shows that only 19% of the large-cap mutual funds in the bank’s database outperformed the S&P 500 during the first quarter--the lowest quarterly hit rate in BoA’s data history spanning 1998 to today.
Moreover, the average mutual fund lagged the index by 1.9 percentage points over the period, marking a record spread of underperformance.
Just One Percent Of Mutual Funds Clocked Positive Returns In 2015: GS
Growth funds reported an even greater underperformance with only...
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