FYI: The shift from active to passive management remains one of the hottest issues in the investment industry. In this report we examine the shift from active to passive investing in bonds. The migration in stocks has received more attention than that in bonds because the move has been more dramatic. The transition in bonds has been less rapid because active bond investors have outperformed passive alternatives at a higher rate than equity managers have, even if much of that outperformance can be explained by exposure to risk premiums.
Regards,
Ted
https://www.bluemountaincapital.com/wp-content/uploads/2019/04/Looking-for-Easy-Games-in-Bonds.pdf
