I recently spent a morning with a group of investment managers debating the pros and cons of active and passive investing and indexation. Basically, active managers are the guys who charge you and me sizable fees to research and analyse stocks, pick the winners and make us all tons of cash from the stock by trying to beat the market - well, at least that's the promise. On the other hand, the index trackers typically focus on trying to match a specific index, such as the JSE's all share index, and hope to give you and I whatever the index delivers. They don't sound very exciting. In fact, one of the investment managers on my panel suggested they shouldn't charge investors for their services because they don't really do anything. Generally speaking, there are many more active managers than there are index trackers available to investors. Passive investing is relatively new, and many find it boring and unsophisticated, and more suited for retail investors, according to Gryphon Asset Ma...

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