Dan Brocklebank, UK director of Orbis Investments, has said the dramatic rise in passives over the past few years has been positive in shining a spotlight on active funds, which are effectively "closet trackers".
Speaking at the Professional Adviser 360 event, Brocklebank said some of the actions within the active community had not been constructive for clients meaning they had shifted their assets towards passives....
'Elaborate breach of trust'
Latest news and analysis
Industry Voice: Lyxor ETF's guide to investing in US Equities
Further statement tomorrow
‘Still work to do' on Cofunds