The active asset management industry needs to prove its value, the head of the world's third-largest insurance company told CNBC in a panel at the World Economic Forum in Davos on Tuesday.
"It's too simple to say that it's the end of active management and everything is going to be passive. ... It's going to be a great year to prove our value," said Oliver Bäte, Allianz's chief executive, acknowledging that investors were looking to asset managers to demonstrate they have more skin in the game.
Fellow panelist, and CEO of Aberdeen Asset Management, Sir Martin Gilbert agreed that fund managers should find more opportunities to distinguish themselves due to the expected end of the aggressive quantitative easing pursued by central banks since the financial crisis.
"As we see a reversal of that, we should get back to more stock-picking and active should come through — it's had a tough time over the last seven or eight years," he said.