Passive Aggression
Indexing isn’t the only thing killing Asset Manager stocks. But is there hope?
I recently bumped into the CEO of a large UK asset manager. I asked him how life was and he answered, “a grind”. I think most of his peers would say the same.
For asset managers, the rise of passive investing was bad enough. It has now overtaken active AUM. That’s not as bad as it sounds, as long as total capitalisation is increasing.
But two other develo…