Yes, but the amount of taxable income you get is driven by the trading practices of your manager(s).
A typical active manager might have a 100% or higher annual portfolio turnover. This will (hopefully) produce gains but because the gains are realized quickly you will find yourself paying taxes on them immediately and probably not at the long-term gains rate either.
A strategy that is more buy-and-hold might well (actually probably will) produce more gains but since they are not realized quickly you will not pay taxes on them until the manager sells them after a long-term gain holding period. So you benefit from a tax-free loan from Uncle for a while, then you pay him at a reduced rate.
There are also "tax managed" mutual funds that have tax avoidance as a fundamental strategy. DTMEX, for example.
Thanks, the FA is now following a lower tax strategy but it was not too bad before. They simply do not trade often.
Future Advisers does a very good job of tax loss harvesting. They report events as they happen. After mentioning this to my FA, he began to employ a similar strategy, which has been helpful. Unfortunately, I needed to tell him. This is a weakness of the FA. He should be telling me.