Gavin Haynes: 'Active or passive' a choice between value and price

Darius McDermott and Hector McNeill have already each provided compelling arguments in their opening salvoes of the Professional Adviser Debate on the ‘cost versus value' aspect of active and passive investing - and yet both seem willing to accept there is a case for considering both styles when building a portfolio. Certainly you would be foolish to discount passive funds. Indeed when I am building a portfolio, I will first of all look at the passive options available - the reason for this being that, as Hector states, they provide the cheapest and most transparent access to market retu...