| 20.10.2016 Other Voices: Blind Capital |
| Christopher Pavese, Chief Investment Officer of Broyhill Asset
Management, via Harvest Exchange: According to Morningstar, the average US equity manager, has underperformed the S&P 500 Index over the past one, three and five years. Given investors natural tendency to chase what’s working, and ditch what’s not, "the death of active management" is becoming a popular consensus sentiment.
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