SPIVA, the S&P Index Versus Active scorecard, is 15 years old and, to mark the occasion, I was invited by S&P Dow Jones to discuss the lessons we’ve learned in that time with Craig Lazzara, S&P’s Global Head of Index Investment Strategy.
Other questions we looked at were these:
— Although most fund managers underarm most of the time, what circumstances are most conducive to outperformance?
— Is index investing “settling for average”? (No, it’s not!) and
— How do financial advisers really add value when it’s almost impossible to pick winning funds ex ante with any degree of consistency?
Dr Tim Edwards, S&P’s Senior Director of Index Investment Strategy, asked the questions.
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.