Mark Gilbert , Columnist

Who Killed the Active Fund Manager?

Blame the rising number of CFAs.

April 4, 2017 at 8:57 AM UTC

Mark Gilbert is a Bloomberg Opinion columnist covering asset management. A former London bureau chief for Bloomberg News, he is author of “Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable.”

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Vanguard Advisers Inc. Chief Executive Officer Bill McNabb has identified an unusual suspect in the investment management world's favorite parlor game: the Chartered Financial Analyst.

The increased "professionalization" of the industry has fueled the growth of low-fee passive funds over actively managed offerings, according to McNabb.