Will 2026 mark the durable comeback of active management?

After a generally favourable year for risk assets in 2025, but marked by widely varying performances and episodes of volatility, active management is once again finding reasons to convince investors.

In this "Great Debate", Richard Pandevant (Exane AM), Michel Saugné (La Financière de l’Échiquier) and Adina Gurau Audibert (French Association for Financial Management) question the sustainability of this trend in 2026, against a backdrop of high valuations, increased index concentration and geopolitical uncertainty. These experts also highlight the implications of the active/passive management debate in terms of sovereignty.

Read the article (available in French only)