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Surprise Outflows for Passive Equity Funds

Two funds contributed the lion's share of passive outflows over the past two months.

Christine Benz: Hi, I'm Christine Benz for Morningstar.com. Investors continue to pull money from U.S. stock funds, and lately the redemptions have extended to passively managed funds. Joining me to discuss the latest fund flow data is Kevin McDevitt. He's a senior analyst in Morningstar's manager research group. He's joining me via Skype today. 

Kevin, thank you so much for being here.