I believe active management is far from dead – the fund managers blaming the current market economic conditions simply do not understand they are endangered species.
Since the great financial crisis in 2008, developed economies have entered a new economic regime: low interest rate, rise of populism, and prevalence of passive investments.
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As Darwin said in On the Origin of Species: “It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.”
Charles Younes is research manager of FE
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