Most active domestic mutual fund managers could not beat the Russell indexes in April, averaging a real return of -3.43%, according to research by Standard & Poor's. Active domestic large-cap growth managers averaged a -2.44% return in April, compared with -1.9% for the Russell 1000 Growth index. Active domestic small-cap value funds averaged -5.24% for April, compared with -5.16% for the Russell 2000 Value index. The average active domestic small-cap growth fund, however, was down only 5.8% in April, compared with -6.36% for the Russell 2000 Growth index.
The average active domestic large-cap value manager returned -2.19%, while the Russell 1000 Value returned -1.52%. The average midcap growth fund returned -4.52%, while the Russell Midcap Growth index returned -3.96%; midcap value funds, on average, returned -4.06%, while the Russell Midcap Value index returned -2.64%.