Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

In today's installment the talk turned to the seemingly inexorable rise of low cost beta and how it has - and hasn't - changed the role of the active manager.

Moderated by Citywire’s executive chair, Lawrence Lever, and head of investment research, Frank Talbot, the senior trio dicussed the potential Marxism of ETFs, investment duration risk, and the long-term hazards of rewarding failure.

Taking part in the chat were:

Mark Burgess - Columbia Threadneedle
Nigel Bolton - BlackRock
Andrew Balls - Pimco

Previous installments tackling the global outlook and the role of new tech can be found here and here.