{"id":93,"date":"2019-12-27T16:01:21","date_gmt":"2019-12-27T16:01:21","guid":{"rendered":"https:\/\/demo.wealthface.ca\/blog\/?p=93"},"modified":"2022-02-04T13:20:14","modified_gmt":"2022-02-04T13:20:14","slug":"passive-funds-leaving-active-managers-red-faced","status":"publish","type":"post","link":"https:\/\/wealthface.com\/blog\/passive-funds-leaving-active-managers-red-faced\/","title":{"rendered":"Passive Funds: Leaving Active Managers Red-Faced"},"content":{"rendered":"\n

Fund\n managers, economists and investment experts love nothing more than a \nheated debate. After all, each of them take their approach to investing \nand building wealth very seriously, and it only makes sense that they \nstrongly believe their own way of doing things is best. For the past \ncouple of years, the biggest disagreements in the world of wealth \nmanagement have been between those fund managers who prefer an active \napproach, and those who are opting for the increasingly far more popular\n and effective passive option (as heralded by Nobel Prize-winning whizz \nHarry Markowitz).<\/p>\n\n\n\n

While the active fund managers certain have plenty of passion history behind their arguments, those on the passive investing side are clearly onto something; over a billion dollars has been moved from active stock funds into passive ones in the past decade,\u00a0 and that kind of economic exodus doesn\u2019t come about for no reason. It\u2019s no coincidence that this rush of interest into passive funds arose with the advent of robo-advisors<\/a> \u2013 an approach fully embraced by passive fund managers for their trustworthiness and unrivalled accuracy.<\/p>\n\n\n\n

Investment\n journals and studies since 2007 have repeatedly dealt some pretty major\n blows to active stock funds, with all kinds of revelations gradually \nchipping away at the confidence of active stock fund managers. The Wall \nStreet Journal itself has proclaimed that no less than 82% of active \nfunds in the US have seriously trailed behind in the 15 years, and \nsimilarly game-changing statistics have flooded out of other countries, \ntoo. It seems that the active model has lost some of its sparkle, and is\n struggling to convince investors of its merits in the 21st century. On \nthe flipside, the passive fund\u2019s star continues to rise year on year, \nwith innovation, accuracy and low-cost fees leading the way.<\/p>\n\n\n\n

Breaking Down The Myths of Active Funds<\/h2>\n\n\n\n

It was the\n timescale of this Wall Street Journal study that seemed to send real \nshockwaves through the investment industry. Fifteen years is a long time\n in the world of investing. The study was able to demonstrate such a \ndownwards trajectory, despite the various peaks and troughs which \nshorter studies might confuse with overall trends. It has been stated \nover and over again \u2013 with considerable evidence to back it up \u2013 that \npassive investment strategy is achieving nothing short of making the \nimpossible possible. No wonder so many flocked over to this approach in \norder to make their wealth grow more effectively.<\/p>\n\n\n\n

The \ntruly striking conclusions of the study, however, were those which \nshowed how while active funds were suffering a nose-dive, passive funds \nof all cap sizes were skyrocketing beyond all expectations. Over five, \nten and even fifteen year periods, passive funds were dramatically \noutperforming their active counterparts. So, next time you hear the myth\n paraded by active fund managers that their results always level out \nover the long term (despite the fluctuations they claim are unavoidable \ntruths of their industry), remind them of the hard facts of this study, \nand watch that smugness dissipate like bubbles in three-day old \nChampagne.<\/p>\n\n\n\n

Active Fund Management: The century of Robo-Advice has begun <\/h2>\n\n\n\n

It\u2019s \nbecoming increasingly obvious to investors that the entire model of \nactive wealth management is fundamentally flawed. This model involves a \nportfolio manager whose job it is to analyze the current market, and \nactively select the stocks he or she believes will outperform and make a\n hefty return. The problem with this model has becoming achingly clear \nwith the advances of the 21st century, and the mass flight of investors \nfrom this model to the passive one has been a powerful testament to \nthis.<\/p>\n\n\n\n

So, what\u2019s the issue? Firstly, active management if rife \nwith human error. Even the most talent active wealth manager isn\u2019t \nfurnished with a fully-functional crystal ball, and even if they were, \nmistakes can and will happen when people are too directly involved. On \ntop of this, there\u2019s a constant worry of vested interests and conflicts \nof interest, something which the past decade has proven highly \nproblematic for investors. The real turn-off, though? Active managers \nare expensive. They demand high fees to cover their salaries and \noverheads, and also need more of the investor\u2019s cash to pay for the \ntransaction costs which are part and parcel of buying and selling. The \nresult has all too often been that returns get eaten up by such fees, \nleaving the investor with little but disappointment and frustration.<\/p>\n\n\n\n

When we look at what passive funds do differently, the attraction becomes ever more obvious with each and every fact. Passive funds are \u2013 by their very nature \u2013 cheaper and more accessible as a result. Active fund managers simply can\u2019t effectively slash their costs in the same as as passive ones can, making them immediately more attractive to new investors. On top of this, the worries regarded conflicts of interest and human error have all but disappeared completely thanks to the passive model\u2019s embracing of the robo-advisor<\/a>, the best of which use cutting edge technology and complex algorithms to adjust to each and every client\u2019s needs. The level of accuracy they provide simply cannot be rivalled by any human wealth manager \u2013 and in today\u2019s market, accuracy and the results it brings are everything.<\/p>\n\n\n\n

The Wall Street\n Journal\u2019s report is just one of a number of studies which provide the \nbasis for a strong passive fund recommendation, and many of the issues \nwhich go hand-in-hand with active funds are rectified by investing \npassively. Firstly, they\u2019re cheaper \u2013 and the latest trend with \nrobo-advisors and robotic portfolio creation make them even more \naffordable, thanks to the lack of overheads involved. On top of this, \npassive funds are carefully constructed to track their own benchmarks, \nwithout making analytical bets of involving deviations. The result? \nBetter returns over long periods, and lower fees which allow those \nreturns to be truly appreciated by the individual investor.<\/p>\n\n\n\n

Innovation and Effectiveness: A Recipe for Success<\/h2>\n\n\n\n

Fascinatingly,\n more and more investors are realizing that it isn\u2019t just long term \ninvestors who are likely to benefit from passive funds, either. The \nlong-held belief that short-term investors are better off with active \nmodels is being eroded, too, with SPIVA reports showing that short, mid \nand long-term investors are seeing more reliable returns with passive \nmodels.<\/p>\n\n\n\n

There\u2019s more to the story than just the cold, hard facts about returns, though. Passive funds and wealth management companies which use Markowitz\u2019s model have proven themselves time and time again to be on top of their game. Innovation and out-of-the-box thinking have been the cornerstones of passive fund management companies since the turn of the century, and the rush of excitement around robo-advisory services such as Wealthface has been more than justified. More trustworthy services, no human error, no conflict of interest and<\/em> lower fees and better returns? Who could possibly argue with that?<\/p>\n\n\n\n

With\n all of these issues (as well as access to the studies which support \nthem) at the very forefront of the minds of investors, is it any \nsurprise that billions of dollars have flooded out of active funds to be\n invested in passive funds? After all, investors are interested in \nwatching their wealth grow reliably, as well as reducing risk while \nmaximizing their returns. If one model is shown to do this more \neffectively than the other, it is only sensible for that to be the one \nto follow. Active fund managers: your days might just be numbered.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fund managers, economists and investment experts love nothing more than a heated debate. After all, each of them take their approach to investing and building wealth very seriously, and it only makes sense that they strongly believe their own way of doing things is best. For the past couple of years, the biggest disagreements in […]<\/p>\n","protected":false},"author":2,"featured_media":271,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"yoast_head":"\nPassive Funds: Leaving Active Managers Red-Faced - Wealthface<\/title>\n<meta name=\"description\" content=\"Passive Funds: Leaving Active Managers Red-Faced - Wealthface\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wealthface.com\/blog\/passive-funds-leaving-active-managers-red-faced\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Passive Funds: Leaving Active Managers Red-Faced\" \/>\n<meta property=\"og:description\" content=\"Passive Funds: Leaving Active Managers Red-Faced - Wealthface\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wealthface.com\/blog\/passive-funds-leaving-active-managers-red-faced\/\" \/>\n<meta property=\"og:site_name\" content=\"Wealthface\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/wealthface\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-27T16:01:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-04T13:20:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wealthface.com\/blog\/wp-content\/uploads\/2019\/12\/passive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1169\" \/>\n\t<meta property=\"og:image:height\" content=\"656\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Wealthface\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@wealthface_llc\" \/>\n<meta name=\"twitter:site\" content=\"@wealthface_llc\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/wealthface.com\/blog\/#organization\",\"name\":\"Wealthface\",\"url\":\"https:\/\/wealthface.com\/blog\/\",\"sameAs\":[\"https:\/\/www.instagram.com\/wealthface\/\",\"https:\/\/www.linkedin.com\/company\/wealthfaceco\/\",\"https:\/\/www.youtube.com\/channel\/UCktkpd8JD7uSB5iK7BPqX2g\",\"https:\/\/www.facebook.com\/wealthface\/\",\"https:\/\/twitter.com\/wealthface_llc\"],\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wealthface.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wealthface.com\/blog\/wp-content\/uploads\/2020\/07\/WF-low-res-logo-1.png\",\"contentUrl\":\"https:\/\/wealthface.com\/blog\/wp-content\/uploads\/2020\/07\/WF-low-res-logo-1.png\",\"width\":488,\"height\":102,\"caption\":\"Wealthface\"},\"image\":{\"@id\":\"https:\/\/wealthface.com\/blog\/#\/schema\/logo\/image\/\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wealthface.com\/blog\/#website\",\"url\":\"https:\/\/wealthface.com\/blog\/\",\"name\":\"Wealthface\",\"description\":\"Your Access to Wealth-being\",\"publisher\":{\"@id\":\"https:\/\/wealthface.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wealthface.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wealthface.com\/blog\/passive-funds-leaving-active-managers-red-faced\/#primaryimage\",\"url\":\"https:\/\/wealthface.com\/blog\/wp-content\/uploads\/2019\/12\/passive.jpg\",\"contentUrl\":\"https:\/\/wealthface.com\/blog\/wp-content\/uploads\/2019\/12\/passive.jpg\",\"width\":1169,\"height\":656},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wealthface.com\/blog\/passive-funds-leaving-active-managers-red-faced\/#webpage\",\"url\":\"https:\/\/wealthface.com\/blog\/passive-funds-leaving-active-managers-red-faced\/\",\"name\":\"Passive Funds: Leaving Active Managers Red-Faced - 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