FYI: A seismic shift is upending the trillion-dollar business of managing money for both institutional and individual investors. From the accelerating movement of cash into passive index funds to the recent drop in fees in actively traded funds, there is mounting pressure on asset managers in all corners of Wall Street.
Yet the rebellion against high fees is nothing new. Almost from the time they set up shop a century ago, fund managers have been criticized for charging too much for a service that offered little or no advantage to individual investors. So why has the practice survived?
Regards,
Ted
https://www.bloomberg.com/view/articles/2016-10-18/the-worst-kept-secret-catches-up-to-fund-managers
