Equity mutual  funds that cannot outperform the stock market indices in most years are likely doomed to go out of business. I've moved out of almost all of the mutual funds I previously held, mostly in favour of ETFs within my RRSP. The actively managed funds, in particular, charge outlandish fees and have not fully disclosed their fee structures. There's a somewhat similar problem with some ETFs' transparency, but at least their management expense ratios are much lower.