(Sept 11): There are plenty of narratives in the matter of active versus passive investing. I, too, have discussed this issue at length here, in the past.
Fact: Investors are abandoning actively managed funds for passive ones. The record amounts currently invested in exchange-traded funds (ETFs) will testify to this.
Active fund managers certainly do themselves no favours through years of under-performance and failing to justify their fat fees. We have compiled returns for unit trusts and the numbers are hard to dispute.