重要裏程碑！全球被動型股票基金規模將超過主動型基金
法國興業銀行的數據顯示，被動管理型股票基金即將迎來一個醞釀了十多年的裏程碑:在全球範圍內，這類產品的淨資產即將超過主動管理的同類產品。
法國興業銀行策略師Arthur Van Slooten及其團隊表示，根據EPFR Global的月度數據，“基金業即將跨過一個具有象徵意義的裏程碑”，時間可能在3月或4月。
由於管理費較低等特點，被動策略多年來一直在贏得市場份額。在美國，被動投資穩步上升。Bloomberg Intelligence的一項分析顯示，平均而言，美國公開上市股票中至少19%的股份由被動型共同基金或被動型ETF持有，這一數字自2013年以來增長了兩倍。如果加入其他結構，這一比例將提高至30%。
Bloomberg Intelligence的數據顯示，在美國公開持有的約44萬億美元股票中，ETF和共同基金持有約16萬億美元，其餘則掌握在個人、企業、保險公司、養老金和其他實體手中。
邁克爾•伯裏、比爾•阿克曼和凱西•伍德等基金經理都對這一趨勢表示譴責，不過，媒體表示，這主要是因爲投資者選擇了成本較低的產品。
與此同時，法國興業銀行表示，在信貸市場，被動型基金吸引資金流入，而主動型基金則出現了資金外流。
他們寫道，可以肯定的是，“債券和信貸基金可能需要相當長的時間，才能使主動型和被動型基金的規模趨同。”
法國興業銀行表示，被動型基金超越主動型基金“顯然是一個預兆，只有高附加值的產品纔有可能獲得回報”。“對大多數投資者來說，這主要意味着他們投資方式的轉變:從選股轉向選基金。”
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