SA’s active asset management industry faces long-term headwinds from passive investment products that are gradually stealing market share from entrenched active managers such as Old Mutual and Allan Gray, while eating into their fee-driven profit margins.

etfSA, a platform offering investors the complete range of exchange-traded funds (ETFs) available on the JSE, says the total market capitalisation of all exchange-traded products on the JSE has increased 12% since the end of 2019 to R112.9bn as at end-September 2020...

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