A decade ago, an active fund manager that spoke for 2 per cent or 3 per cent of a company would not be a top-five investor. Now, they have front-row seats.

Market conditions are ripe for stock-picking, yet 78 per cent of equity fund managers lagged the sharemarket in the first half. Here’s why.

A decade ago, an active fund manager that spoke for 2 per cent or 3 per cent of a company would not be a top-five investor. Now, they have front-row seats.