Is it the end for active fund management?

ACTIVE MANAGED

The RDR seems to have fired the starting pistol on the race for passive - new ETFs are launched almost daily.

At first glance the evidence for passive appears compelling, with few active managers outperforming their respective indices on a consistent basis. There is a raft of academic work that shows active just cannot beat index investing ‘on average’. There is a growing advocacy in the UK adviser market for passive, and they are not alone. In the US funds market Vanguard recently overtook Fidelity for the number onespot in the funds rating with $1.3trn – a place that Fidelity has held for over 20 years. But Vanguard is not just a passive manager – around 50% of its global assets are active ...