Aberdeen warns of faux active managers

A recent Standard & Poor's report that concluded that most actively managed funds have underperformed the index over the medium term has led Aberdeen Asset Management to warn against closet benchmark huggers. Aberdeen notes that in global equities, for example, the report identifies that the index outperformed 76.15% of international equity funds over the last five years as of June 2009. "Many active managers are in fact closet benchmark huggers, sticking close to the benchmark w…