It was not until the second half of the 20th century that investors started to use indices as a benchmark to see how professional fund managers were performing.

直到20世纪的后半期，投资者才开始使用指数作为判断职业基金管理人表现优劣的基准。

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Then, the paper analyses the economic difference between locational Gini indices calculated using different benchmark distributions and the resulting understanding biases.

之后，本文分析了使用不同基准分布计算区位基尼系数所存在的经济意义上的差异，以及因此可能产生的理解偏差；

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Performance lagged behind the benchmark indices for 63.3% of large-cap funds, 80.5% of mid-cap funds and 66.5% of small cap funds.

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Some fund managers, meanwhile, are shadowing their benchmark indices, hoping to hold on to their jobs amid record volatility in the stock market.

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Overall, double-digit gains across domestic and global equity benchmark indices did not translate equally into active management, as most active managers in most categories underperformed.

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