Last week, Peter Lynch, former fund manager of Fidelity Magellan Fund (one of the world’s largest actively-managed equity schemes) swore by active funds. “The move to passive is a mistake. Our active guys have beaten the market for 10, 20, 30 years, and I think they’ll keep on doing it,” he said at a function held at Boston College. Lynch retired from Fidelity at age 46, but helped grow the assets of this scheme from $14 million to $18 billion.
The Rs 38 lakh crore Indian mutual fund industry doesn’t seem to agree with him.
