Australia's second-largest pension fund just made a significant shift. They're pulling money out of passive index funds and betting on active equity managers instead. Why the move? Pretty simple—the tech giants have basically taken over global market benchmarks. When a handful of mega-cap companies dominate your index, you start asking tough questions. Can passive still work when the game is this concentrated? That's the real issue driving this trend. Pension funds, which traditionally live and breathe passive investing for decades, are now reconsidering. The concentration risk in major indices has become impossible to ignore. It's a signal worth paying attention to—when institutional money starts shifting allocation strategies this dramatically, it usually means market dynamics are changing in meaningful ways.