Agreed the current "full active" funds management model is in structural decline, but it is premature to write the industry off.
There will always be a need to manage funds for clients.
And the shakeout in the meantime will be brutal to those that don't embrace change.
The only question is what form the new models take.
Interesting that Macquarie has commenced offering its own ETF's to clients. New to them.
I think Perpetual should have done similarly by now, as well as exploring other possible models.
As shown with the current turmoil. dinosaurs do not last these days.
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