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Active is Not Dead: Morningstar's Johnson

Sep.11 -- The balance of power has shifted in the $8 trillion stock-fund industry. Assets in mutual funds and exchange-traded funds tracking U.S. equity indexes surpassed those run by stock-pickers for the first time last month, according to preliminary estimates Wednesday from Morningstar Inc. Bloomberg's Scarlet Fu talks with Ben Johnson, director of global ETF research at Morningstar, about the shift to passive, nontransparent funds and the state of active investing. August fund flows helped lift assets in index-tracking U.S. equity funds to $4.271 trillion, compared with $4.246 trillion run by stock-pickers.