More than half of European active asset managers outperformed their benchmarks during the second quarter of this year, providing a much needed boost to their sector following a period of increased scrutiny from disgruntled investors and regulators.

Fifty-five per cent of managers beat their benchmark between April and June, according to a report by Lyxor Asset Management, which analysed 3,871 active funds in Europe. This helped them continue a run of improved performance posted in the first quarter, when 52% of them beat their benchmark.