Expect Focus - Life Insurance, Volume II, June 2018

New York Pushes Mutual Fund Active Share Disclosure -

New York’s Attorney General issued a report on its recent investigation of fees charged by actively managed equity mutual funds and a metric known as “Active Share.” Denoted as a “percentage” from 0 to 100 percent, Active Share measures the degree of overlap between a fund’s portfolio and its benchmark index. For example, an Active Share of 100 percent means that a fund and its benchmark have no holdings in common, while an Active Share of 0 percent means that the fund and its benchmark have proportionately identical holdings. Active Share is only one measure of how much “active management” is being done by the fund’s manager.

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