At the Money: Avoid Closet Indexing

Are your expensive active mutual funds and ETFs actually
active? Or, as is too often the case, are they only pretending to
be active? Do they charge a high active fee but then behave more
like an index fund? If so, you are the victim of closet
indexing.

Andrew Slimmon, Managing Director at Morgan Stanley Investment
Management, leads the Applied Equity Advisors team
and serves as Senior Portfolio Manager for all long equity
strategies. He speaks with Barry Ritholtz about the best ways to
avoid the funds that charge high fees but fail to provide the
benefits of active management.


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