A: Thanks for your question.

Long term – the data says that if you are considering a fund investing in major stocks, go index.

Active funds typically underperform, due to the higher management fees.

If you are considering a fund providing exposure to a sector or smaller companies, I would consider an active manager, rather than an index fund.

There is a strong case that where the information is less transparent/less analysed, the market is inefficient. Active managers here can add value.

I would mitigate the “manager risk” by splitting my investment over 2 or 3 managers.