Mutual funds are beating coin flippers when it comes to picking stocks so far this year. Far more mutual funds are beating the market than last year. The bad news is that stocks are returning one-tenth as much.
According to a Fundstrat Global Advisors survey of 3,265 funds, more than half posted gains that exceeded benchmark indexes in 2015 through March 6, for their best start to a year since 2012. Managers are finding it easier to profit from stock picking as lockstep moves among shares unwind and the market endures swings not seen since 2011.
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