Passive or active?

It's a fierce debate in the funds management industry, and it's been going on for decades.

The active fund managers — the ones who analyse individual stocks and single them out for buying or selling — are at loggerheads with the passive fund managers, who allocate funds in proportion to stocks' weighting on an index.

Steffan Berridge, senior investment strategist at Kiwi Invest (formerly Gareth Morgan Investments) is in the active camp.

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Berridge, who has a PhD in financial mathematics, acknowledges passive investing is one of the cheapest ways to access equity markets globally and has helped

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