The Passivists
One Place Where Passive Investing Doesn’t Rule: Bonds
More complex trading in the bond market gives managers more opportunities to stand out
Bond manager Stephen Kane is doing what many stock-fund managers are not: attracting new money.
Clients committed $78 million this year through September to an actively managed fixed-income fund Mr. Kane helps manage for TCW Group Inc. He said his stock-picking colleagues are “pulling their hair out” as they lose customers to funds that mimic markets instead of promising to beat them.
Investors are not yet losing faith in...