“John Kenneth Galbraith once said‘there are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know’. Active asset and fund managers try to‘win against the market’. Thus, they seek to perform better than their benchmarks. However, the evidence predominantly shows that their effort is without avail and that client funds suffer. Active fund managers don’t beat the markets; the markets beat the fund managers. Even according to studies, the returns significantly deviate from the benchmarks in active management,” explains Velat Özdemir.

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