For five years, the story for investment managers has been of The Triumph of the Drones. Passive investment managers have dominated sales, far outstripping active asset managers. Exchange traded funds, still overwhelmingly passive vehicles, have made life even harder for active managers.
五年以来，投资经理们一直上演着《无人机的胜利》(The Triumph of the Drones)的故事。被动型投资经理在基金销售中占据主导地位，业绩远胜于主动型投资经理。交易所交易基金(ETF)——绝大多数仍然是被动投资工具——的存在，让主动型投资者经理的日子更加难过。
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