"A decade ago passive funds held about a quarter of the US mutual fund and ETF market, according to Cerulli Associates, a financial research firm. Despite occasional periods of outperformance, active managers have largely fallen short of passive counterparts in recent years. Active assets remain about 70% of the market when alternative investments such as private equity and private credit are taken into account, said Matt Apkarian, associate director of product development at Cerulli."

https://www.ft.com/content/faf74f66-c4d6-45aa-bb30-0e73d523c547?accessToken=zwAGD1IWnWaIkdP6909mxNZFqtO7MA5z1SPFRw.MEYCIQDOPwWI088RgS6ATWV_XrUztLPnM3o1STgQnI1lXyamOQIhAI_iTzbLr9MegajM4i2mhSCcHJtPzzhaEhr9GrD7dgRn&sharetype=gift&token=c6581481-a6eb-4a14-b16f-8049a471b4ef