Australian Active Funds Face Deep Underperformance

The most active managers in almost a decade are trailing the ASX

Market conditions are ripe for stock-picking, yet 78 per cent of managers have lagged the sharemarket in the first half. Here’s why.

Fund managers lag ASX despite stock-picking backdrop

S&P Dow Jones Indices' Sue Lee said the first half of 2026 proved challenging for active managers across Australian equity categories.

Australian Active Funds Face Deep Underperformance

Australian active fund managers have experienced a challenging year, with a significant majority underperforming the broader market. Data from S&P Dow Jones Indices reveals that approximately 78 per cent of actively managed Australian equity funds lagged the S&P/ASX 200 Index The post Australian Active Funds Face Deep Underperformance first appeared on Sharecafe.

Active equity managers lag benchmarks: SPIVA

Most active equity managers in Australia underperformed their benchmarks in the first half of 2026, despite market conditions that appeared supportive of stock picking, according to S&P Dow Jones Indices' latest SPIVA Australia Scorecard. The S&P DJI report found a majority of funds underperformed across every equity category tracked, while Australian bonds were the only asset class where a slim majority of active funds outperformed. "The first …