FYI: Traditional investment managers have disliked index funds ever since they were introduced. Understandably so. Index funds not only drastically undercut the industry’s pricing, thereby threatening its profitability, but they also implicitly denigrate active management. After all, index funds only thrive if most active managers cannot beat their benchmarks, after costs.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=834096
