FYI: The shift to passive investing from active in the past few years has been almost entirely an equity story, with close to $1 trillion in cash leaving stock mutual funds since 2013. Active debt funds, by contrast, have added $50 billion in flows -- not a lot, but enough to tread water during a rough time for active managers. Gershon Distenfeld is the co-head of fixed income at AllianceBernstein and helps oversee $280 billion in fixed income. He sits down with Bloomberg's Scarlet Fu to discuss active vs. passive investing, credit benchmarks and the advantages of active fixed-income management compared to
Regards,
Ted
https://www.bloomberg.com/news/videos/2018-11-08/battle-of-the-benchmarks-how-should-high-yield-funds-be-judged-video
