History reflects that scorchingly hot summers and a major water shortage saw the advent of a new age in investments, as the birth of the very first passive fund in 1976 launched a $3.3 trillion evolution over the next 40 years.

We adapt and survive, recognizing that the complementary strengths of active asset allocation, within a passive / active combined investment theme, can offer a much wider bandwidth of investment capabilities for a full range of investment requirements.