John "Mac" McQuown, a pioneer in the field of passive investing, has passed away. His work laid the groundwork for the development of index funds, which have become a cornerstone of modern finance. In the early 1970s, McQuown helped set up an entirely passive strategy funded by Samsonite's pension fund, which invested in all New York Stock Exchange stocks. This effort marked one of the first "true" index funds and paved the way for later innovations.

Source: https://www.ft.com/content/652a3456-eb50-4802-a72d-57a0f47c8665