Investors sour on pro stock pickers

Investors are jumping out of mutual funds managed by professional stock pickers and shifting massive amounts of money into lower-cost funds that echo the broader market

Investors are jumping out of mutual funds managed by professional stock pickers and shifting massive amounts of money into lower-cost funds that echo the broader market.

Through November, investors pulled $119.3bn from so-called actively managed US stock funds in 2012, the biggest yearly outflow since 2008, according to the latest data from research firm Morningstar.

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