Using the Mercer database of Canadian institutional money managers we test for performance persistence in several different large-cap equity mandates. From 1990 to 2008 we find that top-performing funds over the prior four years have no better chance of staying in the top half than of falling...

The Standard & Poor's Indices Versus Active Funds (SPIVA) Scorecard reports performance of actively managed Canadian mutual funds corrected for survivorship bias and shows equal and asset weighted peer averages.Domestic Equities: For 2009, only 30.4% of Canadian Equity active funds were able to...