Virtually all actively managed funds have, as a goal, beating a "benchmark index". For example, many funds have, as their "benchmark index", the goal of beating an index, consisting of all stocks that make up the S&P 500.
Clearly, these funds provide no value to investors - or even a negative value - if they cannot beat their designated indexes.
90% of all actively managed mutual funds fail to equal or beat their benchmark indexes over the long term.