The shift from actively managed to passive index-tracking funds has accelerated this year, boosted by a jump in flows to bond and mixed-asset funds, research from JPMorgan shows.
The share of assets under management held in US-domiciled passive bond and hybrid funds — which invest in more than one asset class, for example, equity, fixed income and gold — rose from 23 per cent of all equivalent US fund assets at the end of 2019 to 28.5 per cent by August 2022, a rise of nearly 24 per cent.
“There is a secular move as a greater number of advisers use low-cost passive bond investments to replace their active bond managers,” said Peter Sleep, senior portfolio manager at 7 Investment Management.
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