Buffalo Funds prepares for when bear market shreds passively managed funds

The mutual fund business continues losing assets as investors move massive amounts of money into lower-cost, passively managed index funds, but Buffalo Funds sees this as a trend that eventually will face a hard day of reckoning.

Based in Mission and founded in 1994 by John Kornitzer, Buffalo Funds is a series of 10 actively managed mutual funds. The shift toward passive investing the past few years has caused its assets under management drop from a peak of about $8 billion to about $4 billion…

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