It looks like value-minded fund managers are finally getting a break, Barrons
Brendan Conway writes. Bank of America Merrill Lynch
's quant strategists looked at how value managers compared to the Russell 1000 this morning and reported that 69 percent of value managers beat the benchmark in the second quarter.
Yet BofA Merrill's findings aren't anything to marvel at, Conway stresses, because the average fund outperformed by 0.45 percent. Large-cap fund managers on a broad level beat the index 45 percent of the time in the same quarter. It is an improvement, however, from the last three years, where large-cap value fund managers failed to beat the S&P 500 Value Index at a rate of 81 percent.
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