Bull market prompts outflow from actively managed funds

A decade of net outflow from actively managed mutual funds is linked to the bull market, managers say. “The only market in which passive outperforms active is the market we’re in right now, with increasing asset prices and increasing [price-earnings] multiples, and the reason that’s been the case is because of the extraordinary policies of the Federal Reserve,” said Bob Rice, chief investment strategist at Tangent Capital.

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