Vance in InvestmentNews: Investing Legend Jeff Vinik Gets a Lukewarm Reception
His struggle to attract assets shows how low fees and passive investing have brought star managers back down to earth.
That’s the sub heading of the InvestmentNews article. An excerpt:
Vance Barse, wealth strategist at Manning Wealth Management, agreed that the current cycle, including an historic 10-year bull market, has put star managers on the back burner for now.
"The investment landscape has changed, because investors have become increasingly critical of active management fees," Mr. Barse said. "Jeff Vinik is a highly recognized name and investors are willing to follow alpha, but if managers such as these are having a hard time raising money, it's a sign of the times."
Mr. Barse added, though, that such attitudes about active management are likely to change along with the market cycle.
"We may see a shift in the sentiment about passive investing with a new-found interest in active management," he added.
See Investing legend Jeff Vinik gets a lukewarm reception in InvestmentNews.