"According to my estimates for every dollar actively managed, either through high turnover diversified portfolios or through low turnover concentrated portfolios, there are three dollars in indexing or quasi-indexing. In such a market there will be tremendous rewards for market participants that can provide a differentiated service."
[COMMENTARY] This is a great piece by Harvard’s Professor Serafeim on the way forward for ethical-ESG investing.
Can Index Funds Be a Force for Sustainable Capitalism? By George Serafeim, Harvard Business Review, December 7, 2017, USA.