Asset Managers With $74 Trillion Are Perched on Brink of Crisis
The industry that gave rise to investing titans Peter Lynch, Bill Miller and Bill Gross is facing an existential crisis.
For years, mom-and-pop investors frustrated by high fees and subpar returns from big-name money managers have been shifting their savings into ultra-cheap funds that simply mimic the returns generated by benchmark stock and bond indexes. Passive investing, as it is known, was in. Active was out.
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