FTFM A generation ago passive index-tracking funds were unleashed on an unsuspecting mutual fund industry. This innovation may have proved a slow burner, but today some $800bn (£406bn, €538bn) is invested in passive, low-cost exchange traded funds.
If some of the larger brains in the investment banking community are to be believed, we are standing on the cusp of a similar revolution, this time in the world of hedge funds.
