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Snake oil funds

So far, 2022 has been a bad year for active fund managers. Only 42 of 243 funds in Trustnet’s database of all companies unit trusts have outperformed L&G’s UK index tracker fund (which tracks the All-Share index) so far this year, and 18 of these are other trackers, mostly of the FTSE 100.

There’s a simple reason for this. The All-Share index has been pushed up by big rises in a few huge stocks such as Shell, BP and AstraZeneca. Most shares have underperformed the market, which means that so too have most funds.

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