Article: Nine out of 10 fund managers are unreliable Only 6 per cent beat the average return every year over five years

AN ASTONISHING 94 per cent of equity fund managers have failed to deliver above-average returns in each of the past five years, according to shocking new figures.

Figures calculated for The Sunday Telegraph by Citywire, the financial analyst, show that only 11 of the 175 fund managers with a track record of at least five years have beaten the average performance in their sector over the period.

The survey covered the six equity sectors most popular with investors: UK All Companies, UK Equity Income, Europe ex-UK, North America, Far East ex-Japan, Japan and Specialists. Not a single manager in the UK Equity Income, Far East or Japan sectors has managed to outperform the average each year.

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