Investments  

Morningstar View: Managing expectations

This makes me guess with confidence that 10 years from now – regardless of the proportion of money passively managed relative to the total money invested in the stockmarket – investors will still be faced with the same sad reality, namely that only a minority of active managers will consistently outperform their respective benchmarks.

Hortense Bioy is director of passive fund research, Europe at Morningstar

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