Active funds struggled in April and value topped growth
gorodenkoff
Actively managed funds faced a tough month in April, with only 40% of those tracked by BofA outperforming their benchmarks (SPY) (IWB) (IWF) (IWD).
The 60% underperformed by a median of -0.29%, BofA's global quant strategy team said in a note Wednesday.
"The results differed by style, according to our analysis of 2000 funds managing $2 trillion," quant strategist Nigel Tupper wrote. "While 54% of Value funds outperformed by a median +0.07%, only 31% of Growth funds outperformed with a median relative return of -0.59%."'
The most overweight stocks held in at least 30 Value funds are:

Capital One (NYSE:COF)
Wells Fargo (WFC)
Ping An Insurance (OTCPK:PNGAY)
LG Electronics
Samsung (OTCPK:SSNLF)

The most overweight stocks held in at least 30 Growth funds are:

MercadoLibre (NASDAQ:MELI)
Midea Group
AIA
Ryanair (RYAAY)
RELX (RELX)
Visa (V)
Novo Nordisk (NVO)

Regionally, 64% of Japan funds outperformed, while only 19% of Europe funds outperformed.
"By Funds Under Management, 59% of the largest funds (FUM > $10bn) outperformed benchmark in April while only 38% of smaller funds (FUM < $750m) outperformed during the month," Tupper said. 

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