Aberdeen chief scoffs at the rise of passive management

Passive index investments are “a nonsense” according to Hugh Young, Aberdeen Asset Management's managing director for Asia. But the industry veteran told AsianInvestor that the rise of passive products could be an opportunity for active managers to exploit increasing anomalies in the markets. And in terms of the overall Asian investment space, Young said he saw Indian equities as a better bet than Chinese stocks, but expects the region to enjoy only tepid growth this year. The…