Navigate money 6
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Person 1: Jim, the portfolio manager, is my friend. He practises ‘closet indexing’!
Person 2: What did you say what?!
Person 1: He claims to run an active portfolio, and charges 2% fees for that. But he invests mostly in index funds.
Person 2: 2% annual fees for running what is almost a passive portfolio?!! That’s a lot!
Person 2: What did you say what?!
Person 1: He claims to run an active portfolio, and charges 2% fees for that. But he invests mostly in index funds.
Person 2: 2% annual fees for running what is almost a passive portfolio?!! That’s a lot!