Active fund managers had the chance to “easily” beat passive funds in the first half of 2022 but failed to impress, according to financial research and investment management company Morningstar.

Funds managed by Investment Association (IA) members reached a milestone figure of £10 trillion for the first time in 2021.

A major investor survey has revealed that many are prepared to pay a premium for active fund management but also want professional advice to help them make the most of their portfolios.