Passively managed products

Fees were nearly half the price of the top-performing active funds.

Just 36% of actively managed stock funds topped indexes in the year through June, down from 43% in 2017, according to Morningstar.

Fee wars are great for clients, but don’t judge a fund solely on its expense ratio.

“Are we reactive to what one competitor does? Absolutely not,” CIO Greg Davis says.

Inflows have slowed? Actively managed funds would like to have that problem.

The funds raked in a combined $840 million last week despite competitive hurdles banks typically face going up against money managers’ core products.

The closure could signal that remaining retail players are short on patience for neutered products.

The asset manager's flows are down 42% year-over-year. The industry: 50%.

The bank has replaced dozens of high-cost offerings with more passive and enhanced actively managed products.