As much as investors and fund managers strive to beat the index, the task is a difficult one and usually unsuccessful.

Around two-thirds of professionally managed large-cap equity mutual funds are outperformed by the Standard and Poor's 500 stock index after expenses, according to Burton Malkiel, Chemical Bank Chairman's Professor of Economics at Princeton University, the Associated Press reports. The remaining one-third that beat the index, will likely underperform the market the subsequent year.

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