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WORLDVIEW: Active money managers hammered (again) in year they should have won
Tracker funds and resource-linked Exchange Traded Funds have mushroomed in a country that was late to catch the global wave. But now investors have caught onto the benefit of ultra low costs, they’re hooked.
By Alec Hogg
A few years back, I was publicly attacked by a marketing executive who worked for an asset management company. It was during an otherwise forgettable presentation in Pretoria when I was giving feedback after returning from my annual trip to Omaha to listen to the world's greatest investor, Warren Buffett.
That was one of the years when Buffett lined up the fund management industry, repeatedly telling the 40 000 Berkshire AGM pilgrims to invest in index trackers rather than active managers. I shared his views and got a verbal "snotklap" for my trouble.
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