Morningstar Magazine - June/July 2017 - 31

ent port o os

s ea y eas er to measure
or. It's easier to sell the

The time has come for fee structures
andofother
incentive
that more
ward a life
good
dentalprograms
hygiene.
strongly align fund company interests with those
10,000
15,000
of shareholders.
Jeffrey Ptak

37

11 international $)

Passive

The Death of Active Management
Has Been Greatly Exaggerated

32

For Active Funds, Winter Is Coming

36

Sustainable Investing Comes of Age

38

The Promise of Behavioral Finance

41

Balance of Power Tilts Away From
Asset Managers

44

Advice

Advisors in a Good Spot

49

Robos

Automated Advice Gets Personal

51

Gamma

Alpha, Beta, and ... More Gamma

54

Europe

Dusting Off Wealth Management

57

China

China's Next 10 Years

60

Active
Market Share by Fund Share Class Type
ESG
100%
Behavior

75
Asset Managers

50
25
0
0

00

2011

2012

2013

2014

2002

2015

2016

2004

2006

global.morningstar.com/Morningstarmagazine

31


http://global.morningstar.com/Morningstarmagazine

Table of Contents for the Digital Edition of Morningstar Magazine - June/July 2017

Contents
Morningstar Magazine - June/July 2017 - Cover1
Morningstar Magazine - June/July 2017 - Cover2
Morningstar Magazine - June/July 2017 - 1
Morningstar Magazine - June/July 2017 - 2
Morningstar Magazine - June/July 2017 - Contents
Morningstar Magazine - June/July 2017 - 4
Morningstar Magazine - June/July 2017 - 5
Morningstar Magazine - June/July 2017 - 6
Morningstar Magazine - June/July 2017 - 7
Morningstar Magazine - June/July 2017 - 8
Morningstar Magazine - June/July 2017 - 9
Morningstar Magazine - June/July 2017 - 10
Morningstar Magazine - June/July 2017 - 11
Morningstar Magazine - June/July 2017 - 12
Morningstar Magazine - June/July 2017 - 13
Morningstar Magazine - June/July 2017 - 14
Morningstar Magazine - June/July 2017 - 15
Morningstar Magazine - June/July 2017 - 16
Morningstar Magazine - June/July 2017 - 17
Morningstar Magazine - June/July 2017 - 18
Morningstar Magazine - June/July 2017 - 19
Morningstar Magazine - June/July 2017 - 20
Morningstar Magazine - June/July 2017 - 21
Morningstar Magazine - June/July 2017 - 22
Morningstar Magazine - June/July 2017 - 23
Morningstar Magazine - June/July 2017 - 24
Morningstar Magazine - June/July 2017 - 25
Morningstar Magazine - June/July 2017 - 26
Morningstar Magazine - June/July 2017 - 27
Morningstar Magazine - June/July 2017 - 28
Morningstar Magazine - June/July 2017 - 29
Morningstar Magazine - June/July 2017 - 30
Morningstar Magazine - June/July 2017 - 31
Morningstar Magazine - June/July 2017 - 32
Morningstar Magazine - June/July 2017 - 33
Morningstar Magazine - June/July 2017 - 34
Morningstar Magazine - June/July 2017 - 35
Morningstar Magazine - June/July 2017 - 36
Morningstar Magazine - June/July 2017 - 37
Morningstar Magazine - June/July 2017 - 38
Morningstar Magazine - June/July 2017 - 39
Morningstar Magazine - June/July 2017 - 40
Morningstar Magazine - June/July 2017 - 41
Morningstar Magazine - June/July 2017 - 42
Morningstar Magazine - June/July 2017 - 43
Morningstar Magazine - June/July 2017 - 44
Morningstar Magazine - June/July 2017 - 45
Morningstar Magazine - June/July 2017 - 46
Morningstar Magazine - June/July 2017 - 47
Morningstar Magazine - June/July 2017 - 48
Morningstar Magazine - June/July 2017 - 49
Morningstar Magazine - June/July 2017 - 50
Morningstar Magazine - June/July 2017 - 51
Morningstar Magazine - June/July 2017 - 52
Morningstar Magazine - June/July 2017 - 53
Morningstar Magazine - June/July 2017 - 54
Morningstar Magazine - June/July 2017 - 55
Morningstar Magazine - June/July 2017 - 56
Morningstar Magazine - June/July 2017 - 57
Morningstar Magazine - June/July 2017 - 58
Morningstar Magazine - June/July 2017 - 59
Morningstar Magazine - June/July 2017 - 60
Morningstar Magazine - June/July 2017 - 61
Morningstar Magazine - June/July 2017 - 62
Morningstar Magazine - June/July 2017 - 63
Morningstar Magazine - June/July 2017 - 64
Morningstar Magazine - June/July 2017 - 65
Morningstar Magazine - June/July 2017 - 66
Morningstar Magazine - June/July 2017 - 67
Morningstar Magazine - June/July 2017 - 68
Morningstar Magazine - June/July 2017 - 69
Morningstar Magazine - June/July 2017 - 70
Morningstar Magazine - June/July 2017 - 71
Morningstar Magazine - June/July 2017 - 72
Morningstar Magazine - June/July 2017 - 73
Morningstar Magazine - June/July 2017 - 74
Morningstar Magazine - June/July 2017 - 75
Morningstar Magazine - June/July 2017 - 76
Morningstar Magazine - June/July 2017 - 77
Morningstar Magazine - June/July 2017 - 78
Morningstar Magazine - June/July 2017 - 79
Morningstar Magazine - June/July 2017 - 80
Morningstar Magazine - June/July 2017 - 81
Morningstar Magazine - June/July 2017 - 82
Morningstar Magazine - June/July 2017 - 83
Morningstar Magazine - June/July 2017 - 84
Morningstar Magazine - June/July 2017 - 85
Morningstar Magazine - June/July 2017 - 86
Morningstar Magazine - June/July 2017 - 87
Morningstar Magazine - June/July 2017 - 88
Morningstar Magazine - June/July 2017 - 89
Morningstar Magazine - June/July 2017 - 90
Morningstar Magazine - June/July 2017 - 91
Morningstar Magazine - June/July 2017 - 92
Morningstar Magazine - June/July 2017 - 93
Morningstar Magazine - June/July 2017 - 94
Morningstar Magazine - June/July 2017 - 95
Morningstar Magazine - June/July 2017 - 96
Morningstar Magazine - June/July 2017 - 97
Morningstar Magazine - June/July 2017 - 98
Morningstar Magazine - June/July 2017 - 99
Morningstar Magazine - June/July 2017 - 100
Morningstar Magazine - June/July 2017 - 101
Morningstar Magazine - June/July 2017 - 102
Morningstar Magazine - June/July 2017 - 103
Morningstar Magazine - June/July 2017 - 104
Morningstar Magazine - June/July 2017 - 105
Morningstar Magazine - June/July 2017 - 106
Morningstar Magazine - June/July 2017 - 107
Morningstar Magazine - June/July 2017 - 108
Morningstar Magazine - June/July 2017 - 109
Morningstar Magazine - June/July 2017 - 110
Morningstar Magazine - June/July 2017 - 111
Morningstar Magazine - June/July 2017 - 112
Morningstar Magazine - June/July 2017 - Cover3
Morningstar Magazine - June/July 2017 - Cover4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019winter
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019fall
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019summer
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019spring
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20191201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20181011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20181201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20141011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20141201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120405
https://www.nxtbook.com/nxtbooks/morningstar/investorconference2012
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20091011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008catalog
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008winter
https://www.nxtbookmedia.com