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Central bank buying has helped the stock market but angered pension funds
American counterpart far exceeds region in terms of assets held in funds and products
US stockpickers remain far too heavily weighted in cyclicals and inflationary stocks
Warren Buffett is among those sceptical that active management can fight back
Funds provide investors with critical liquidity at times of wider markets stress
Can market sell instant gratification when underlying securities are harder to trade?
The products have transformed US bourses, but some worry that ETFs are breeding systemic risks
Surge in passive investing fanned by these funds is a boon to traditional investors
International Edition