FYI: Time was, all you knew abou t your fund manager was the smiling photo that accompanied the bromides in your shareholder letter.
That gave way to a phalanx of star managers, many of whom seemed to spend more time on television than they did researching companies. Some spectacular flameouts—triggered first by the technology crash of 2000 and then the financial crisis of 2008—put an end to that and dealt a serious blow to active management. Investors began pouring money into passive funds. Active managers—especially those who did little more than mimic the index with a little window dressing—found themselves underperforming and unable to justify their higher fees. Now, the best active managers are getting energized. For many, that means turning “active” into activism.
Regards,
Ted
https://www.barrons.com/articles/mutual-fund-managers-activist-investors-51554498763?tesla=y&mod=article_inline
