Download Active Index Investing: Maximizing Portfolio Performance and by Steven A. Schoenfeld PDF

By Steven A. Schoenfeld

For over 3 many years, indexing has develop into more and more permitted through either institutional and person investors.  Index benchmarks and funding items that song them were a driver within the transformation of funding process from paintings to technological know-how. but traders’ realizing of the sophistication of this burgeoning box has lagged the transforming into use of index products.

Active Index Investing is the definitive consultant to how indexes are built, how index-based portfolios are controlled, and the way the world’s such a lot refined traders use index-based innovations to reinforce functionality, decrease charges and reduce the hazards of investing.

Active Index Investing presents a finished review of (1) the funding theories which are the root of index dependent making an investment, (2) most sensible practices in benchmark development, (3) the turning out to be international of index-based funding cars, (4) state-of-the-art index portfolio administration techniq ues and (5) the myriad methods traders can and do catch some great benefits of indexing.

Active Index Investing has a distinct layout that captures the perspectives and views of over forty of the funding industry’s best specialists and practitioners, whereas holding a holistic view of this complicated material. as well as the Appendix and word list in the ebook, it gains an E-ppendix, on hand at

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Extra resources for Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies

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And each of these factors can be custom implemented—using alternative weights or excluding certain characteristics—either as a benchmark or within an index strategy. Each subindex can also be used to complete an investor’s existing allocations, a strategy that is discussed in Chapter 18. Index providers and index fund/ETF managers will continue to innovate, and thus, this list might be obsolete relatively soon. com provides news and updates on benchmarks and index products. S. com. 1 Array of Choices in Standard and Custom Indexes Cap Range (Size) Style (Value/Growth) Sectors Market Coverage Specialized/ Screened Dow Jones L/M/S/total V/“Neutral”/G 10 >30 Sustainability, Islamic, custom FTSE L/M/S/total V/G 10 >45 Socially responsible, custom MSCI L/M/S/total V/G 10 >45 Custom S&P L/M/S/total V/G 10 >45 Custom Note: L = Large cap; M = Mid cap; S = Small cap; V = Value; G = Growth.

This knowledge will help the reader recognize just how dynamic the field is and why indexing truly is active. This chapter starts the journey by first explaining the book’s title—Active Index Investing—with a description of the three ways in which indexing is anything but passive. The second part of the chapter provides a broad overview of the core themes and information in Parts One through Five of the book. WHAT DOES ACTIVE INDEXING MEAN? Index-based products are commonly referred to as passive, which implies a static, even boring, approach to the market.

And there’s no excuse for messing up the index management. So if that’s all you can aspire to, and because of high costs that’s by definition much more than investors as a group can aspire to . . accept it! Because of costs, you probably have, the statistics suggest, about a 4 percent chance of beating the market over 50 years. Is there any point in not just garnering the market return, when you have one chance in 25 of beating the market, when the other 24 chances have you losing? I can’t imagine making that kind of bet.

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