Taylor: I hate shopping medication erectile dysfunction treatment biloba Once you buy into the concept of finding a fund manager who can “beat the markets,” you are already on the road to financial perdition. Let’s put the task of trying to pick a “winning fund manager” in perspective. In a study by investment management firm First Quadrant, the authors found the average actively managed fund underperformed its benchmark by a whopping 4.17 percent after taxes over the 10-year period studied. Only 9 percent of the funds studied over the period outperformed their benchmark after taxes. The benchmark was the Vanguard 500 Index Fund.