Could rising interest rates be the saving grace for active investment managers?
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Battered stockpickers pray for a flood of investing opportunities
Across the asset management industry, rational professionals have been pleading for higher interest rates the way ancient farmers prayed for rain.
The years following the financial crisis brought a drought of opportunities for stock pickers and hedge fund managers, and their frustrated clients have deserted en masse to index trackers such as exchange traded funds that tend to have much lower fees.