(Wall Street Journal) More investors are losing faith in old-school money managers as financial markets sputter. Clients yanked $207.3 billion in 2015 from U.S.-based mutual funds that hand pick their positions while pouring $413.8 billion into funds that mimic broad indexes for a fraction of the cost, according to new data from research firm Morningstar Inc.
Most of the withdrawals, roughly $169 billion, were from funds that research individual U.S. stocks.
