'This is the title, boss -'
LSEG Lipper: performance review - relative performance of equity funds as of March 31, 2024
Whatever.
Hello,
Hello.
Please see attached for the latest analysis of the relative performance of active managed equity funds vs. their respective fund manager benchmarks. This also includes an alternative analysis of the relative performance vs. the Lipper assigned technical indicators (peergroup benchmarks).
Thanks,
Nsikan
Okay.
Lucky did it.
Ah, Christ.
'Ha!'
Yeah, all right.
oooh performance! review relative performance equity funds as of March 31 2024 7 in more detail 3 533 39 06% conventional funds beat! their respective fund manager benchmarks while 5 513 60 94% showed! an underperformance over the course of the analysed time period the disadvantage of actively managed products gets even clearer in the segment! of ESG related funds where only 28 89% 1 431 of the available products showed an outperformance while 71 11% 3 523 of funds showed an underperformance compared to their respective fund manager benchmarks graph 2 percentage of outperforming and underperforming funds relative performance vs fund manager benchmarks between April 1 2023 and March 31 2024 by management approach source LSEG Lipper performance review relative performance equity funds as of March 31 2024 8 to evaluate! the success of actively managed funds it is not enough to count the funds which have outperformed or underperformed their respective fund manager benchmarks it is! also important to analyze the respective margin the overall! average performance of conventional funds between April 1 2023 and March 31 2024 was negative 2 04% while ESG related showed an on average higher overall underperformance of negative 3 77% a closer! look at the performance! pattern shows that outperforming ESG related funds showed a lower average outperformance 4 95% compared to their conventional peers 5 53% the same pattern is true for the average underperformance since ESG related funds 7 31% showed a higher underperformance compared to their conventional peers 6 89% graph 3 average outperformance and underperformance of active managed funds relative performance vs fund manager benchmark between April 1 2023 and March 31 2024 by management approach source LSEG lipper these results! may indicate that the market environment over the analyzed time period was in favor of conventional funds since companies from some of the so called old economy sectors showed good returns alongside the magnificent seven that said companies from the old economy sectors are often not as advanced with regard to their ESG credentials and therefore are often excluded from ESG related portfolios keeping in mind that a high number of ESG related funds are using conventional fund manager benchmarks it can be concluded that the overall success of ESG related funds compared to their conventional peers is highly! dependent on market trends performance review relative performance equity funds as of March 31 2024 9 results relative performance of actively managed funds versus their technical indicators the usage of the technical indicator led to a larger universe! of funds for this analysis but even as the fund universe grew by more than 10 000 products to 24 341 funds and ETFs we witnessed somewhat! the same results for the relative performance of actively managed equity funds versus their technical indicators this is because 7 636 products 31 37% were able to outperform their technical indicators meanwhile 16 705 products 68 63% showed an underperformance these results are echoing! the trend visible! in the relative performance vs the fund manager benchmarks since the results are also slightly better than those from the previous report the overall average relative performance of all equity funds compared to their technical indicators for the analyzed time period is negative 7 26% this average underperformance is worse than in previous report 3 58% graph 4 percentage of outperforming and underperforming funds relative performance vs technical indicator between April 1 2023 and March 31 2024 Source LSEG Lipper performance review relative performance equity funds as of March 31 2024 10 a closer! look at the details! shows that the underlying pattern of the ratio! between outperforming and underperforming funds relative to their technical indicators is somewhat in line with results when comparing the funds with their fund manager benchmarks the majority! of conventional funds 10 693 or 64 93% showed an underperformance compared to their respective technical indicator while 5 776 or 35 07% showed! an outperformance these! numbers echoed! the slight improvement in the overall numbers conversely the results for ESG related products were worse compared to the former report as 76 37% 6 012 of the ESG related products showed an underperformance while 23 63% 1 860 showed an outperformance graph 5 percentage of outperforming and underperforming funds relative performance vs technical indicator between April 1 2023 and March 31 2024 by management approach source LSEG lipper as far as the relative performance versus the technical indicator is concerned one needs also to evaluate the level of outperformance and underperformance to evaluate the success of the respective funds versus their technical indicators in general it can be said that the gap between the average out and underperformance has widened as the universe of analyzed funds has increased this increase might be caused by the fact that the technical indicator is not always a suitable benchmark for performance comparisons as it may not fully represent the eligible investment universe of specific funds especially when they are following
Okay.
See ya guys!
'Thanks, Lucky!'
Why are you thanking him, Voice?
'Just being polite.'
Right.
'He's a hard worker, you know.'
Of course he is.
'He's just not very good at it, that's all. Blame all the people who hire him.'
I do!
Anyway, kooks ...
ENDS
ENDS
ENDS
