For The First Time Outside Of A Bear Market, Fund Closures Exceed Launches

The shift to passive versus active management is changing the way we think about investing. That much is clear. In fact, the shift to passive versus active by definition means we aren't "thinking" about investing at all. This is a "set it and forget it" atmosphere and to be sure, it makes a lot of sense in a market where stocks and bonds only go up. After all, why pay hefty management fees when you can blow the roof off mimicking a benchmark for 10bps? (Goldman) This dynamic has of course i