On the whole, active management hasn’t been outperforming, says Jason Voss on the CFA Institute’s Enterprising Investor blog. He polled readers to get their views on why.

Read: Why fund managers use derivatives

Almost one quarter (24%) said higher management fees are to blame. Another 18% said “benchmarking, style box, and tracking error constraints encourage sameness.”

See the other reasons cited in the poll.

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