David Blake: 5 things you need to know about active funds

Posted by Robin Powell on December 8, 2016

David Blake: 5 things you need to know about active funds


Professor David Blake is from Bayes Business School in London. He has led one of the most detailed on-going studies of mutual fund performance in the world.

It’s called New Evidence on Mutual Fund Performance: A Comparison of Alternative Bootstrap Methods — and every investor should read it.

The research was based on a study of 561 UK equity funds between 1998 and 2008. According to Professor David Blake, the findings are broadly consistent with those of similar studies on fund management in different countries and over different periods of time.

I asked him to summarise the most important findings of the Bayes study and other studies like it. These are the five main points he came up with:



Vast majority of UK fund managers “genuinely unskilled” — study


ROBIN POWELL is a freelance journalist and the founding editor of The Evidence-Based Investor. Based in Birmingham, England, he founded Ember Television and Regis Media, and he specialties in helping disruptive financial firms to grow. He also campaigns for a fair, transparent and sustainable investing industry. You can follow him on Twitter at @RobinJPowell.



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Robin Powell

Robin is a journalist and campaigner for positive change in global investing. He runs Regis Media, a niche provider of content marketing for financial advice firms with an evidence-based investment philosophy. He also works as a consultant to other disruptive firms in the investing sector.


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