Why true active management matters more than ever

• Listed equity returns don’t just materialise, they depend on engaged, long-term shareholders giving companies the confidence to invest and grow • As more assets move into passive strategies, engaged ownership is becoming harder to find • Active management remains essential to long-term value creation in listed equities The debate on the value – or otherwise – of active management has existed since Jack Bogle of Vanguard first invented the passive fund in the 1970s. Incumbents with vested interests on both sides make their own self-serving arguments. On the one hand it’s a zero-sum game...