Abstract
By applying traditional investment theory in a quantitative, rules-based methodology, index sponsors can imbed fundamental portfolio management concepts into the selection of index constituents. As ETFs become increasingly popular among retail investors, leading financial institutions, at an increasingly faster pace, will launch ETFs based on innovative indices that mirror more traditional mutual fund strategies These semi-active strategies are better recognized by the retail market, offer the potential for outperformance, and parallel traditional investment concepts that have been marketed to individuals for over 30 years
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