“Most money is indexed. That’s a disaster.” Jerusalem-born Hermes Investment Management chief Saker Nusseibeh is well-known for being blunt. When he sat down for a recent interview, he was also “irascible,” writes the Financial Times’ Aliya Ram. Nusseibeh — “a practising Muslim and one of the few chief executives in the [UK] who self-identifies as ‘brown’ — holds forth on a variety of topics, but nowhere is he more on-point than when he unleashes his broadside against index funds: “He argues that passive [fund] management has diluted the effect of corporate engagement: ‘What you have is absentee landlords and companies that have absolutely no one holding them to account, doing what the hell they want. Why? Because most of the investment in companies [is through] index funds.’”