CEO Laurence D. Finks restructuring efforts will move $6 billion run by traditional stock pickers into cheaper funds where quants play a role.
Active managers face headwinds despite an overall positive outlook for the U.S. economy thats taken hold since the election of President Trump.
The famed manager claimed he was ousted by a "cabal" of executives who wanted a larger share of his bonus.
Asking clinical expertise before investing in complex products is a must for Henrik Rhenman, who manages the $500 million fund.
These products havent suffered the same fate as other active portfolios because they offer something that isnt easy to automate.