@msf, that 22% passive seems correct now. I just used my memory that a few years ago, the split was 2/3 rd passive, 1/3 rd active. But there has been a huge expansion on the index side, including the ETFs. I don't know how VG characterizes its factor ETFs but that isn't a big amount yet.

Unless I slipped a decimal place, that's four cents more than you'd good get in total interest from the TBTF banks (0.01% APY).

I have a friend who owned a condo (not a co-op) in Ocean Grove - a town where the land is owned by the Ocean Grove Camp Meeting Association of the United Methodist Church.
https://www.charitynavigator.org/ein/210652120
Leases there are typically for 99 years. In the past few years there seems to have been a fair amount of commotion about the terms and rates of those leases. My friend sold before then, after being shocked, shocked, at the high NJ property taxes. No problems regarding prices or conducting transactions, though.
I dug up a couple of articles about some of the more recent leasing problems there. These seem like worst case scenarios and not something one would typically be concerned about, at least if the lease is clear and you know what to expect.
It seems that in 2016 the Camp Meeting Association tried to increase the rents for land occupied by commercial property. People organized to to sue to void the entire leasing scheme. The land owner backed down, but according to the article, at least one sale closed at reduced price because of the potential increase in the land rent. (The rent would have increased from $21 to $5K!)
https://thecoaster.net/wordpress/no-increase-planned-for-ocean-grove-land-leases/
More recently (article below is from three days ago), the Camp Meeting Association started up again with increased rents and modified terms.

The Camp Meeting Association has begun to issue new leases for commercial properties here that come with higher rent and reminders that its owners need to refrain from selling anything that would be considered incompatible with Christian values. ...
The Camp Meeting historically ... and transferred the leases to new owners when the properties were sold. But it has begun to review and issue new leases for properties that aren't single-family homes when they change hands, offering terms that can include higher rent, fewer years and restrictions on activities it finds antithetical. ...
The morals clause, she said, opens the door to interpretation.

https://www.app.com/story/news/local/neptune-wall/ocean-grove/2021/12/15/ocean-grove-camp-meeting-association-raises-rents-businesses/8718660002/
Yankee Stadium (the original) was owned by the Knights of Columbus and the land was owned by Rice University. (The Yankees leased the stadium.) This complicated matters in the 70s when Yankee Stadium was renovated.
https://www.nytimes.com/1972/08/11/archives/city-acquires-the-title-to-yankee-stadium.html

too many! All VG active funds (33% of VG business) have outside advisors

Could you source this figure? Vanguard suggests a much lower percentage for its whole business. $1.6T/$7.2T = 22%.

Few people realize we’re among the world’s largest active investment managers with more than $1.6 trillion entrusted to us by investors [as of 12/31/2020]

https://institutional.vanguard.com/VGApp/iip/site/institutional/investments/AlphaActive

About $7.2 trillion in global assets under management, as of January 31, 2021

https://about.vanguard.com/who-we-are/fast-facts/
It's possible that Vanguard is presenting only domestic actively managed AUM and that the global figure (and thus overall percentage) is higher.
M* looked more narrowly at just US equity funds, where the fraction of assets that are actively managed is even lower (1/8):

Counting both their mutual fund and exchange-traded fund versions, Vanguard’s U.S. stock index funds amount to a collective $2.2 trillion--7 times the total for the active funds [as of mid 2020].

https://www.morningstar.com/articles/994649/whither-vanguards-active-us-equity-funds
Regarding active fixed income funds (including MMFs) Wellington is the sole advisor for VFIIX / VFIJX and VWEHX / VWEAX. The Vanguard Fixed Income Group manages all the other active Vanguard fixed income funds (including MMFs) alone, except for VWESX / VWETX where Wellington helps out.
Aside from Vanguard's fixed income funds and funds of funds, there are a number of other active funds that Vanguard manages alone. The more vanilla of them are VMVFX / VMNVX, VFMFX, VSEQX, and VSTCX. Alternative strategy funds include VASFX and VMNFX. Vanguard's commodities fund VCMDX is run jointly by its quant group and its fixed income group.

Former owners of Berwyn funds became owners of Chartwell funds in 2018, and now will become owners of Carillion Chartwell funds.

Wasn’t it vice versa?
Chartwell bought Killen Asset Management, the owners of Berwyn Funds, and then proceeded to totally screw up BERIX. The old managers moved on to start PMEFX.

And, one of the co-managers of the funds, Mark Saylor, recently left PMEFX. I remember BERIX quite fondly as a conservative balanced fund that didn't shoot out the lights but played a "steady Eddie" role in my portfolio.
Sorry to see it get totally screwed up.
Fred

Land-lease can be renewed at higher amount or land can be bought outright by property owners. It depends on the nature and state of properties. That the land-lease owner will send bulldozers to demolish properties at lease expiry doesn't make economic sense. But it sure is an added complication.
Many of Manhattan buildings are on leased land. Rockefeller Center was on land owned by Columbia U. In 1985, Rockefeller Center paid $400 million to buy the land from Columbia U.
https://www.nytimes.com/1985/02/06/nyregion/colombia-is-to-get-400-million-in-rockefeller-center-land-sale.html
https://streeteasy.com/talk/discussion/28861-complete-list-of-land-lease-buidlings-in-manhattan

My parents lived on a lake in the north Georgia mountains that was owned by Georgia Power Co. The power company owned most of the land bordering the lake and leased lots to homeowners for 100 years. That arrangement apparently hasn’t hurt residents because the cost of homes has skyrocketed over the years. My parents originally bought their home in the 1960s for about $14,000. My mom sold the house in the 1980s for about $350,000 and the same house is probably worth $1 million plus now.

@BenWP
Here's something I found:

Try tossing cards. This game requires two to five players. Begin by marking a line about 6 to 12 feet from a wall. Decide how many cards each player will have for each round. Player One stands behind the line, then tosses each card (individually) towards the wall. The game continues with each player tossing his own cards. Whoever is closest to the wall wins. An ideal position is when the card lands leaning against the wall; however, other players can knock it out of place to steal the win.

play-baseball-cards-6125430

Former owners of Berwyn funds became owners of Chartwell funds in 2018, and now will become owners of Carillion Chartwell funds.

Wasn’t it vice versa?
Chartwell bought Killen Asset Management, the owners of Berwyn Funds, and then proceeded to totally screw up BERIX. The old managers moved on to start PMEFX.

@Mark...Agree. Non "Fun"-gible Tokens.
You can't even close-pin them to your bike like the Fun tokens we collected/traded as a kid.

I bought a property in a very unique community that has 45 years left on a 100 year land lease. The property is part of a Co-op (think Condo) but our association doesn't own the land. We pay a hefty land lease fee on top of our normal HOA expenses.
It's my first year as an owner and I am questioning the logic of our board members regarding insurance premiums. None of these properties are bank owned... everyone is cash. Insurance premium increased 25% this year over last year's costs. To add insult to injury, the association needed a bridge loan to avoid payment penalties from the insurer. That loan charges 4.61% interest.
We are in year 55 of a 100 year lease which means that in 45 year the value of the condo goes to zero (for shareholders...remember I own a share of a Co-Op) and the land lease owner takes possession of all of our "property".
I understand the importance and need for basic insurance coverage (liability being one), but I would like find alternative ways to manage the risk of an aging property and its diminishing value due to the this land lease dynamic.
Anyone have any thoughts on this very unique real estate dynamic that I now call home (well at least until I am 107)?

Has the mutual fund METAX been formed yet? It's coming...

First, a short primer on the history of the internet and where we believe it’s headed. The earliest days of the internet, known as Web 1.0, were characterized by static, one-way webpages—think Netscape and Yahoo. Users were little more than passive observers.
Next came Web 2.0, the period we’re currently in. Controlled by a disproportionately small number of companies (Facebook, YouTube, etc.), the internet of today is highly centralized despite users’ role as an active participant.
That brings us to Web 3.0, which will usher in a whole new level of experience that, to some people, may sound more like Tron than real life.

the-metaverse-is-a-1-trillion-revenue-opportunity-heres-how-to-invest

Dec 18 Episode:

GM's Subscription Base Service:
gm-aims-to-build-netflix-sized-subscription-business-by-2030

Found this letter on Chartwell's site:
https://chartwellip.com/wp-content/uploads/Client-Letter-from-CIP-10.20.2021-Letterhead-1.pdf

I believe the CSR stated that the distributions would be reinvested on 12/20. I suspect this is for investors with brokerage accounts.
I just checked my account with the transfer agent. The distributions have already been re-invested into my account.

Re: BRUFX. Bruce:
Bruce Fund (called rep on 12/17 and received the following info which is tentative):
ordinary income -$9.7481
ST CG -$1.9481
LT CG - $50.2761
**********************************************
JUST POSTED on 17 Dec. to my wife's IRA, but still pending. I did not look at the per-share amounts. The "split," I mean.

I was sure Chartwell sounded familiar. Finally found the thread. Chartwell grew its fund business by acquiring Berwyn funds in 2016. It appears that prior to that it had been offering only two funds itself, though it was managing portions of two Vanguard funds and providing other advisory services.
https://mutualfundobserver.com/discuss/discussion/25497/the-berwyn-funds-reorganizing-to-be-part-of-chartwell-investment-partners
In late 2016, Vanguad fired Chartwell. Vanguard accounted for 1/4 of its AUM.
https://www.inquirer.com/philly/blogs/inq-phillydeals/Vanguard-fires-Chartwell-of-Berwyn-whose-owner-kills-deal-with-Philly-investor.html

https://www.thinkadvisor.com/2021/12/17/vanguard-and-dfa-cut-fund-fees-again/?slreturn=20211117174318
Vanguard:
https://pressroom.vanguard.com/news/Press-release-Vanguard-Reports-Expense-Ratio-Reductions-for-17-Fund-Shares-121721.html
Dimensional:
https://us.dimensional.com/about-us/media-center/dimensional-lowers-fees-on-mutual-funds-and-etfs

Former owners of Berwyn funds became owners of Chartwell funds in 2018, and now will become owners of Carillion Chartwell funds.

https://www.sec.gov/Archives/edgar/data/1697268/000158064221005921/chartwell497.htm
(see link for table of changes)