Actively managed funds nursing withdrawals despite US market's bull run
New York
FINANCIAL pundits shouted about record high levels for the stock market in 2016, but for actively managed stock mutual funds there was another record, one they would rather keep quiet: the largest amount of net withdrawals ever recorded.
Benchmark equity indexes hit fresh peaks and the S&P 500 is on course for an eighth consecutive year of positive total returns. However, in the battle between active and passive funds to grab investment dollars in a record price environment, there was no contest.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
EU toughens rules on Chinese fashion retailer Shein
Keppel prices 70 million euros of floating-rate notes due 2031
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales