passive funds

Day-to-day led by L&G

Inflows for US and global equity funds

Morningstar flows data

£12.2bn pulled since June

High fees also a factor

Data from HL, ii and AJ Bell

Ten years of withdrawals from UK-focused funds

Net flows double from last year

Active managers can exploit opportunities created by passive trading and extract further yield from the market, say Fidelity’s Kris Atkinson and Shamil Gohil.

Morningstar Active/Passive Barometer