Why active management is still needed in US equities

It has been tough to generate alpha in the US over the past few years, but investors allocating exclusively to an index tracker raises potential issues too, argues Richard Wilson, Co-Manager of the Polar Capital North American Fund. Richard takes a balanced look at the US equity market and how investors can best gain exposure to America’s greatest strength – it’s entrepreneurial, pro-innovation, pro-growth business culture – by focusing on companies from across the market-cap spectrum, where the team are finding more attractively valued opportunities than in a relatively small clutch of mega-cap companies that have come to dominate the investment narrative.