Confuse share in asset management with share in financial markets.

This is a confusion often made. In fact, looking at data, there is a huge difference between the 2:

• The share of passive management in financial markets is rather small. Worldwide, assets of equity passive funds amount to €9trn or 11% of the global equity market capitalization. Fixed income passive funds worldwide amount to €2.5trn, i.e. 3% of the global bond market capitalization (source SIFMA 2020 Capital Markets Fact Book).
  

• The share of passive management in a mutual fund industry is much more significant. Worldwide passive funds represent 44% of equity fund management industry assets and 24% of fixed income fund management industry assets (Source Morningstar, end of Sept 2020).

I am convinced, as an expert in portfolio construction, that investors need reliable and comprehensive data to optimize portfolio construction.