Institutional investors 'need more active management'

Singapore

LARGE institutional investors can no longer depend on market benchmark indices as a major source of their returns and will have to rely more on genuinely skilled active managers, a top executive at Singapore's sovereign wealth fund said on Friday.

Jeffrey Jaensubhakij, GIC president of public markets and director of equities, said: "There's not a lot to like in the indices . . . You cannot invest in indices and expect that to be your source of gains."

Speaking at a panel discussion at the Asia Summit of the Milken Institute, a California-based economic think tank, he added that this applies to…