Source: MarketBeat.com.
Overview
For decades, asset management has been a good area for quality-oriented investors for its high profitability and scalability. However, over the past few years, this industry has seen its secular headwinds increase as the belief in market efficiency and cost-consciousness grows among investors. As a result, there came the "race to zero" (i.e. management fees are being cut even to the lowest possible level) and ongoing shift from active to passive products. In the end, if 80% of the money managers cannot beat the market, why wouldn't investors just buy the whole