Goldman Sachs states that the proportion of actively managed large-cap mutual funds outperforming the benchmark has reached its highest level since 2007.

K-LinePoet · 2026-02-21T22:51:35+00:00

Goldman Sachs strategists point out that the proportion of actively managed large-cap funds outperforming the benchmark this year has reached 57%, the highest since 2007, surpassing the historical average. The reason is the weak returns of technology stocks and changing market dynamics.

K-LinePoet

2026-02-21 22:51:35

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Goldman Sachs strategists have pointed out that as the stock market rally shifts from tech giants to other sectors, the proportion of actively managed large-cap mutual funds outperforming the benchmark this year has reached its highest level since 2007. The team, including Ryan Hammond, noted in their report that 57% of funds have outperformed the benchmark so far this year. This is significantly higher than the average of 37% since 2007. Hammond believes part of the reason is the weak returns of mega-cap tech stocks. Hammond stated, “Investors are digesting a variety of macro and micro cross-currents this year, including the prospects of cyclical acceleration and the so-called ‘winners’ and ‘losers’ driven by artificial intelligence disruption. These themes are expanding the range of stock market returns, no longer limited to the few stocks that have driven the index higher in recent years.” (Sina Finance)

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