Outgoing Perpetual chief executive Geoff Lloyd maintains active fund managers in Australia still have a bright future, despite the threat from the global rise of passive investment funds.
Mr Lloyd, 49, on Monday announced he would step down at the end of this financial year, after a five-year period in which the industry has faced major structural changes.
Active fund managers are grappling with a crunch on their revenue from the rise of lower-cost passive investment funds, which are expanding their market share while also pressuring profit margins.
Mr Lloyd, who first joined Perpetual as an executive in 2010, oversa…
Read the full article at: http://www.smh.com.au/business/banking-and-finance/outgoing-perpetual-chief-geoff-lloyd-says-theres-a-strong-place-for-active-and-passive-funds-20171120-gzos4h.html