hedge funds, and 4 percent private equity. Across all asset classes, 60 percent of the funds are managed passively, meaning that the portfolio managers are simply buying an index of stocks and not trying to beat the market. One good thing about index funds is that they are cheap. The fees they charge investors are much lower than those charged by funds that try to beat the market. These low fees for the index funds helped keep the costs in the default fund very low, 0.17 percent. (This means that for every $100 invested, the investor is charged 17 cents per year.) Overall, most experts would consider this fund to be very well designed.

Table 9.1  
Comparison of the default fund and the mean actively chosen portfolio

_Asset allocation_|The Royals Report: Prince Harry & Meghan open up in new ITV documentary In this week's edition of The Royals Report, BBC royal correspondent Jonny Dymond joins CBSN to talk about Prince Harry and Meghan opening up about their mental health in a new documentary.