Author: IIMI Admin
‘System built for giants, not start-ups’
Conviction in active management runs through our membership. It’s the task of many members’ commercial teams to explain why they believe their funds can outperform passive alternatives. But, as IIMI, this is not our task.
This paper is not a rehearsal of arguments as to why active investing might outshine passive. It’s an exploration of whether the rise of passive investing may have had unintended consequences for the health of our industry.
More fundamentally, it’s also an examination of our responsibility as an industry – which we argue plays a role in the functioning of capital markets and indeed the real economy.