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“The performance of an energy stock is going to be driven by supply and demand of oil,” said Fernando Soto, a senior vice president in Brown Brothers Harriman’s private banking division. “It’s very, very difficult to predict that.”
Received wisdom holds has it active managers should outperform their benchmarks in volatile periods – but does that still hold true?
"With rates volatility seemingly subsiding in the past few weeks, we could start to see outflows decrease and demand flow back into munis," according to AmeriVet Securities' Jason Wong.
The oil and gas sector is the stock market's worst performer this year, down 10% compared with the broader S&P 500's 7.5% gain, after leading the market by far last year with a 59% surge.
Traders work on the floor of the NYSE in New York (Reuters) - U.S. equity funds faced huge outflows in the week ended May 10, on caution over the U.S. debt…