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Passive management revolution reshaping the world of fixed-income,

 just as it did equities a decade ago. 

Equity investors have been shifting to passive index products for years. Created decades ago, their popularity ballooned following the 2008 financial crisis, fueled in part by skepticism of active money managers after stocks cratered.

The fixed-income market has long been seen as more complex relative to stocks, allowing firms to justify the need for active management, and the juicier fees that come with it.

But history is repeating. The dramatic losses in debt markets last year, fueled by the most aggressive Federal Reserve policy tightening in a generation, has turned what was once a relatively slow and steady shift away from active bond funds and toward passive products into a stampede.

Beyond Vanguard, the other big beneficiary of the shift from active to passive in fixed income has been BlackRock Inc. The firm’s more than 90 US index-tracking bond ETFs have taken in over $100 billion in the past year

Bloomberg 9 May 2023


Indexfonder har varit en bättre placering än aktivt förvaltade fonder


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