CFA Institute Research Foundation publikovala zajímavý materiál o pasivním a aktivním investování (BEYOND ACTIVE AND PASSIVE INVESTING – THE CUSTOMIZATION OF FINANCE). Report dospěl k překvapivému závěru: „Ačkoli většina investorů očekává, že pasivní investování bude v budoucnosti dominovat, analýza klíčových trendů naznačuje, že častější bude nadále aktivní investování.“
Obsah reportu:
1. Introduction
2. Framing the Active versus Passive Debate
2.1. The Capital Asset Pricing Model Emerges
2.2. From Academic Theories to Investment Products
2.3. The Current State of the Active versus Passive Debate
3. Overview: Evolution of Active and Passive Investing, 1989–2021
3.1. Data and Methodology
3.2. The Ascent of Indexing Worldwide
3.3. Active versus Passive: Equities versus All Other Asset Classes
3.4. Active versus Passive within Equities
3.5. The Current State of Active versus Passive Investing
4. Detailed Analysis: Evolution of Active and Passive Investing, 1989–2021
4.1. Global Overview: All Asset Classes, All Domiciles
4.2. The Asset Class Perspective
4.3. The Rise of Smart Beta
4.4. The Distribution of Active and Passive Investing across Categories and Regions
4.5. Active versus Passive Investing: A Direct Comparison
5. Understanding the Future of Active and Passive Investing
5.1. The Beginning of the Active versus Passive Debate
5.2. Finance Theory and Investment Practice Converge
5.3. Technology Enables Customization
5.4. Customization Is Active Management
5.5. Information, Complexity, and Adoption
5.6. Toward Hyper-Managed Portfolios
5.7. The Future for Asset Managers
6. Conclusion