Investors haven’t soured on all active fund managers—only those who pick U.S. stocks. Actively managed mutual funds and exchange-traded funds that own domestic stocks experienced $98.5 billion in net redemptions in the first six months of 2017, according to the latest figures from Morningstar. Active funds that buy international stocks attracted inflows of $8.7 billion and active funds that buy bonds gathered $106.5 billion. “The trend for U.S. stocks funds keeps going and going,” said Russel Kinnel, director of manager research at Morningstar. “There is a perception that they can’t beat their benchmarks, especially when it comes to large-cap stocks.” Read the original story from Bloomberg.
