This data gets repeated every year with little substantive change. Active managers that can consistently beat indexes are hard to come by.
From Standard & Poors, their index on the value of active management of asset classes for 2009:
* Over the last five years, the S&P 500 has outperformed 60.8% of actively managed
large-cap U.S. equity funds; the S&P MidCap 400 has outperformed 77.2% of mid-cap
funds; and the S&P SmallCap 600 has outperformed 66.6% of small-cap funds.
*The five-year data results are similar for actively managed fixed income funds. Acrossall categories, with the exception of emerging market debt, more than 70% of active managers have failed to beat benchmarks.
If you are interested in being "in the market", any decision to hire an active manager for the asset class has to be heavily scrutinized. What is his/her "edge". Over time, what makes you think the asset manager can maintain it? Does the risk of failure jeopardize you getting to your goal? If so, why take it?
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