FYI: Generally, retail investors pay higher fees for active management that institutional investors, so there’s been some question about whether institutional active managers might be able to outperform passive when fees are taken out of the equation.
A new study pours cold water on that theory and shows that institutional active managers are not faring much better than their mutual fund counterparts—and thus fees are not responsible for active management’s outperformance.
Regards,
Ted
https://www.fa-mag.com/news/active-management-is-struggling-on-the-institutional-side--too-51711.html?print
