Yet the number of active funds has more than doubled, according to Mr Chen, meaning that each fund is smaller in size.

但陈李表示，活跃的基金数量翻了一番还多，这意味着每只基金的规模缩小了。

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Houston, the largest city in Texas, is home to America's biggest energy firms, which have spawned an active cluster of energy traders and hedge funds.

得克萨斯州的第一大城市休斯敦是美国最大的能源公司的总部，它为一群活跃的能源交易公司和对冲基金的出现提供了平台。

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You don't have to give up being an active investor. But consider ditching individual stocks in favor of easier choices like index funds.

你不必放弃做一个积极型投资者，但要考虑放弃选个股，换一些更简单的选择，如指数型基金。

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After adjustment for risk the active funds' edge grows to 1.3 points a year.

FORBES: The Other Side of Vanguard

The data shows that active funds underperform without prejudice to asset classes, sector or style.

FORBES: SPIVA Spikes Mutual Fund Managers Again

Second, he documents the expenses of active funds and index funds in the marketplace.

FORBES: A Sharpe Assault On Mutual Fund Fees