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Active fund managers claim they earn their fees when markets fall. New Morningstar research spanning 26 years tests this claim. The findings: active funds in downturns do outperform more often, but markets rise 80% of the time, swamping any advantage. When COVID and 2022 stress-tested the theory, most active managers failed to protect investors. The promised shelter turns out to be little more than a coin flip.

Fidelity's active funds built their reputation on Peter Lynch's legendary returns. But 30 years of data reveals zero funds with statistically significant outperformance. Most telling? Fidelity's own $723 billion bet on zero-fee index funds—bigger than its flagship active fund. When Peter Lynch's company stops backing Peter Lynch's strategy, the evidence speaks louder than marketing.

New research reveals active fund fees are far too high for the value they add. So how much is active management actually worth? Investors...

It is often claimed that active funds offer greater protection in falling markets. Unlike index funds, active managers can hold cash or...

Before choosing a financial adviser, it is essential to ask the right questions. One of the most revealing is whether they recommend...

Why does asset management move at a snail's pace? A new book claims it's down to the "purposeful inertia" of entrenched interests.

Choosing an active fund can seem like a smart move, especially when a fund has delivered strong results in the past. But past performance...

Active funds promise market‑beating returns through clever stock‑picking and timely trades. Yet the evidence shows that very few deliver. ...