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Passive Proliferation Slows as 770,000 Indexes Scrapped in 2019

  • Closures of redundant gauges outweighed new creations
  • But debt and ESG measures continued to attract demand

The seemingly inexorable march of passive investing looks to have hit a roadblock.

The number of indexes around the world fell more than 20% to 2.96 million in 2019 as benchmark providers scrapped some of their gauges, according to a new report from the Index Industry Association. For the first time since the organization started conducting its now annual survey two years ago, the decommissioning of redundant measures outweighed the creation of new benchmarks.