November rout for active funds as investors go for indexes
Boston
STOCK and bond pickers took another hit last month from investors. They pulled US$67 billion from active mutual funds while adding US$70.6 billion to passive funds in November, the most for each category this year, according to data compiled by Morningstar Inc.
The shift, which has been underway since the financial crisis of 2008, is being driven by investors who are unhappy with the cost and performance of active funds. In the five years ended June 30, only 8 per cent of large-cap stock managers beat their benchmarks, ac…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s Huawei launches new software brand for intelligent driving
Capital A chief Fernandes defers retirement, renews contract for five years
China’s SenseTime soars 36% after unveiling beefier AI model
PBOC steps up rhetoric against long-end government bond rally
Texas Instruments gives solid forecast in sign of comeback
Cordlife customers push for legal action