Investing

SEC Chairman Puts in a Good Word for Active Investing

WASHINGTON—Stock pickers may have a friend in their newest regulator.

Securities and Exchange Commission Chairman Jay Clayton said Wednesday that his investments in actively managed mutual funds have performed better than passive investments such as funds that track an index. Mr. Clayton, a former corporate lawyer who took over the SEC in May, said he has been “pretty much an index investor” but benefited from active management.

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