Stock-picking fund managers are clawing back. Can it last?

FILE - In this Aug. 5, 2019, file photo trader Timothy Nick, right, works on the floor of the New York Stock Exchange. Mutual fund managers are making the most of the shaky stock market, which has provided them an opportunity to prove themselves and lure back investors who dumped them in recent years. Nearly half of all actively managed U.S. stock funds turned in better returns than their average index-fund peer for the 12 months through June, according to fund tracker Morningstar.

NEW YORK (AP) — Mutual fund managers are making the most of the shaky stock market, which has provided them an opportunity to prove themselves and lure back investors who dumped them in recent years.

Nearly half of all actively managed U.S. stock funds turned in better returns than their average index-fund peer for the 12 months through June, according to fund tracker Morningstar. Their success rate of 48% may not sound very impressive, but it's much better than the 37% of a year earlier.

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