Actively managed funds nursing withdrawals despite US market's bull run
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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.
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