If Active Managers Are Dead, Their Stocks Haven’t Heard About It
- An index of asset managers has outperformed S&P in past weeks
- Rotation to passive extends as traders pull $37 billion in 1Q
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They’re beating the benchmark!
Or, at least, they’ve caught up with broader market. Shares of asset managers have been staging their own little bull market the last few weeks, with an index of 18 stocks in the S&P 1500 advancing in nine of the past 12 days. The rally has been enough to erase losses for the year and push the gauge past the S&P 500 based on 2017 returns.