Passive funds have been taking share from active funds for several years, and one of the arguments has been the seemingly-endless stock rally. Active fund managers were simply having a difficult time posting returns high enough to justify their higher fees because key stock indices have remained strong.
Q4 hedge fund letters, conference, scoops etc
However, investor flows out of active funds and into passive ones continue amid the recent spate of volatility—even as some fund managers try to convince investors of the virtues of active investing.
Flows turn positive, but mostly for passive
Bank of America Merrill Lynch analyst Michael Carrier and team said last week that fund flows turned positive for the second time in 10 weeks....
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