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Yale's Faith Not Shaken by Stirring of Low Fees
But returns of active managers struggle compared with low-cost active strategies.
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Don’t count out active managers just yet, the Yale endowment says.
As Bloomberg’s Janet Lorin reported on Sunday, Yale University’s endowment hit back at “fee bashers” in its recently released 2016 annual report. Yale gave voice to the battle cry of high-priced active managers everywhere: “The important metric is net returns, not gross fees.”