Bearish Outlook Breaks Consensus

Active managers who briefly looked like they might finally have their moment earlier this year are once again confronting a familiar problem: a market rally driven by a tiny group of tech mega caps that diversified portfolios simply can’t keep up with.The share of mutual funds outperforming the S&P 500 this year has plunged to just 28%, according to the latest data from Barclays, down from over 60% at the end of February. After benefiting from a rotation out of high flying technology shares and into the broader market, stock pickers are getting left behind as money floods back into a narrow group of AI-fueled heavyweights. For more on the generally bearish, Tim Stenovec and Emily Graffeo speaks with Thomas Thornton, President at Hedge Fund Telemetry and Alexandra Semenova, Bloomberg US Stocks Reporter See omnystudio.com/listener for privacy information.