Active managers again fell short of their respective benchmarks in 2016, S&P Dow Jones Indices says in its latest SPIVA Canada scorecard.

The SPIVA scorecard found the market’s strong run last year caused a majority of active managers in domestic Canadian equities to underperform their respective benchmarks.

Just under one-fifth of Canadian equity funds (17.31%) outperformed the S&P/TSX Composite index over 2016, a release says.

U.S. equity managers saw a significant increase in performance, but only 28.4% provided alpha over the S&P 500, the release says.

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