Bloomberg

With tech oligarchy shaken, active funds are having a great time

The New York Stock Exchange (NYSE) in New York on Oct. 2, 2020. Foto: Bloomberg/Michael Nagle

Turmoil in megacaps like Apple is stirring investor anxiety. But for professional stock pickers, it's mostly good news when the market's biggest companies loosen their grip.

Since the start of the year, 57% of large-cap mutual funds have beaten their benchmarks, marking the industry's best start to a year in almost a decade, data compiled by Goldman Sachs show. A key driver is the easing dominance of mega-companies that funds chronically own too little of...

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