Fund net loss of high-position most serious of which, passive management of index funds to bear the brunt.

基金净亏损高的位置最严重的是，指数基金的被动管理首当其冲。

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When a portfolio manager for an index fund performs additional management services, the fund is no longer passive.

FORBES: The Hidden Differences Between Index Funds

There is always debate among investors as to whether style investing using index funds or a style-based asset class fund is an active management strategy or a passive one.

FORBES: Investing in Style with Index Funds