Active Management

Which strategy would you call active versus passive?

Here’s my story.

It’s not enough to follow someone’s advice to invest in index funds. Actual passivity contradicts the trustee’s duty to act as a prudent fiduciary. Passive investment products are potentially as complex as any other, and prudence demands careful evaluation.

For many of us who have been in the industry for many years, the evidence is hard to take.

Does “more institutional” with more “alternatives, ” such as hedge funds, mean better? I don’t think so.

What's in a name? Maybe more fees that you realize.