When the going gets tough, active funds have the edge

In 2023, when risk assets could seemingly do little wrong, several actively managed funds often trailed their respective benchmarks, in part explaining the flow of funds to passively managed corpuses through 2024. But as volatility rose and directional choppiness buffeted equity gauges through a tumultuous 2024, actively managed funds are very much back in the reckoning to justify the category tag - and the applicable management fees.