Infrastructure ETFs are a con
Infrastructure investment is a con, even if done through an ETF. There is no such asset class as infrastructure. And all the factors associated with it are given a better run by other, more real, asset classes. In the case of ETFs, infrastructure indexes offer active management in disguise through ad hoc weighting schemes. And infrastructure ETFs' returns are no better than major indexes.
The customers still don't have yachts
Active managers are under pressure from passive investing, which is forcing fee cuts and eating away at their market share. But the party is hardly over for active management. Pension funds are inherently conservative meaning they stay loyal to bad active managers. Big investors have long standing relationships with hedge funds, meaning they too have feet of clay. At the end of the day, active managers are still making huge profits.
Vanguard to beat BlackRock
Vanguard is gaining on BlackRock, threatening to overtake it as the world's largest manager. Why? Mostly because it's cheaper and always will be. "Owned by its clients, Vanguard is able to cut fees continuously as it gets bigger, unlike competitors that keep fees high to bolster profits for external shareholders."