From January through June this year, investors removed $317bn from actively managed funds and pumped $373bn into passive funds. But passive investing, according to Sanford C. Bernstein research, is worse for society than Marxism.
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“We are company-specific, bottom-up stockpickers and our investment strategy is not influenced by macro events like a sweeping revolution worse than Marxist-based communism. That said, we do act opportunistically to take advantage of such market dislocations to buy undervalued assets.” Robert Ruderschmidt, portfolio manager, Overflowing Alpha Asset Management |
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“My retrocession fees are shrinking in correlation with the capital flowing out of active funds, but I’m offsetting that by going all-in on ETFs in my personal portfolio.” Louie Zheng, head of discretionary mandates, Global Behemoth Private Bank |
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“The compliance department is at an offsite meeting and therefore we are unable to comment at this point in time.” Buffy Leung, corporate communications, Absolute Zero Risk Investment Management (AZRIM)
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“We are fully committed to delivering sustainable solutions for investors with innovative products suited to their risk appetite as they navigate through different market cycles. Therefore, we’ve developed a series of actively-managed funds that invest only in ETFs. Some will be Marxist-themed.” Mark McGuffin, global head of product development, Investor-Centric Asset Management |
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“The worst part is, with no portfolio managers to position, the rise of passive funds means a reduction in marketing budgets.” Shelley Sim, head of marketing in APAC, SmoothTalk Fund Management Group |
