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

By Steven A. Schoenfeld

ISBN-10: 0471257079

ISBN-13: 9780471257073

For over 3 a long time, indexing has develop into more and more permitted by means of either institutional and person investors.  Index benchmarks and funding items that song them were a driver within the transformation of funding approach from paintings to technological know-how. but traders’ figuring out of the sophistication of this burgeoning box has lagged the becoming use of index products.

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

Active Index Investing presents a finished evaluation of (1) the funding theories which are the root of index established making an investment, (2) most sensible practices in benchmark development, (3) the growing to be international of index-based funding automobiles, (4) state of the art index portfolio administration techniq ues and (5) the myriad methods traders can and do catch the advantages of indexing.

Active Index Investing has a special structure that captures the perspectives and views of over forty of the funding industry’s major specialists and practitioners, whereas conserving a holistic view of this advanced subject material. as well as the Appendix and word list in the e-book, it positive factors an E-ppendix, to be had at www.IndexUniverse.com

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Example text

Second, people were not using them for that purpose . . clearly.

8 The regulatory change that cleared the way for indexing was a statement that “prudence” in mutual funds would be determined on the basis of diversification, as opposed to an examination of the merits of individual stocks. The indexing wave did not leave individual investors behind for very long, thanks in part to two Princeton alumni who brought index theory and index funds to retail investors. 9 Malkiel is credited with introducing the investing public to market efficiency and the new empirical concepts of stock market risk and return.

Sectors/industries (subsectors). Size/capitalization range. Style and style rotation. , bankruptcy/value, corporate governance). 1 summarizes the range of size, style, sector, and country coverage of the major global index families. 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.

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Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies by Steven A. Schoenfeld


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