Active fund managers have delivered standout performance in 2025, with nearly 50 UK equity funds outperforming the FTSE All-Share year-to-date, according to new analysis from AJ Bell. On the income side, Barclays UK Equity Income topped the table with a 20.6% return, narrowly ahead of the iShares UK Dividend ETF, which gained 20.4%. The results mark a boost for active managers, who have faced mounting criticism in recent years for widespread underperformance against cheaper passive rivals. Coatsworth cautioned, however, that the real challenge will be sustaining outperformance: “It’s incredibly hard for fund managers to beat their benchmark year in, year out. The challenge now for active funds is to sustain this year’s outperformance to date.