Ask Not For Whom the Bell Tolls

Increasingly, investors see actively managed funds as a sinking ship, according to this WSJ report:

[T]he passive/active divide kept getting wider in 2014. Investors took a net $91.46 billion out of actively managed U.S.-stock funds and invested a net $63.52 billion in passive U.S. funds—preferring low-cost index funds to the skills of stock pickers—according to estimates through November from Morningstar Inc. 

Their lack of faith in managers is understandable. According to preliminary data from Morningstar, 88% of managers of large-cap growth funds underperformed the S&P 500 index in 2014.