We're transparent, not biased against fund managers: S&P's Benedek Voros

'The two key factors are volatility in the stock market and the performance differential within indices'

Abhishek Kumar
Last Updated at November 17, 2022 12:05 IST

Benedeck Voros, director, Index Investment Strategy at S&P Dow Jones Indices

Benedek Voros, director, Index Investment Strategy at S&P Dow Jones Indices

The S&P Dow Jones Indices periodically releases the S&P Indices Versus Active Funds (SPIVA) report for India, US and other regions, which puts a spotlight on the performance of actively-managed mutual fund schemes vis-à-vis their benchmarks. The latest report shows that nearly 90 per cent of Indian large-cap funds have underperformed their benchmark over a five-year period. Last year, one fund house released a report analysing the performances of active funds using the rolling return data to illustrate that they may not be doing as badly as it's being shown by reports based on point-to-point returns (like SPIVA). The author of the latest SPIVA report, Benedek Voros, director, Index Investment Strategy at S&P Dow Jones Indices, believes that their methodology is unbiased towards active fund managers as it follows a transparent process and comes out at a pre-decided schedule irrespective of the outcome. In an interview to Abhishek Kumar, Voros also shares the factors that lead to outperformance or underperformance of active funds. Edited excerpts:

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