Massive passive: 50 years of the index fund

Happy birthday to the index fund, which this month turned 50 years old — looking fitter, feistier and more controversial than ever.

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The success of passive investing has been breathtaking. There is now over $16tn in index funds of various stripes, almost twice the size of the combined private equity, venture capital and hedge fund industries.
The success of passive investing has been breathtaking. There is now over $16tn in index funds of various stripes, almost twice the size of the combined private equity, venture capital and hedge fund industries. (Foto: Angela Weiss/AFP/NTB)