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The Journal of Index Investing

The Journal of Index Investing

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Article

Smart Beta Strategies as Outcome-Oriented Solutions in the Equity Space

Ursula Marchioni, Sofia Antropova and Catherine McNaught
The Journal of Index Investing Summer 2015, 6 (1) 65-78; DOI: https://doi.org/10.3905/jii.2015.6.1.065
Ursula Marchioni
is a director and head of iShares EMEA Equity Strategy & ETP Research at BlackRock in London, U.K. ursula.marchioni@blackrock.com
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Sofia Antropova
is a director and investment strategist at BlackRock in London, U.K. sofia.antropova@blackrock.com
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Catherine McNaught
is vice president and investment strategist at BlackRock in London, U.K. catherine.mcnaught@blackrock.com
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Abstract

As index investing continues to grow, we are witnessing an expansion of what the beta continuum encompasses. During the 2000 dot-com bubble and the 2007–2008 financial crisis, market-capitalization weighted strategies revealed some of their limitations. As a result, increasing attention is being devoted to index solutions that go beyond the traditional space—often referred to as “smart beta.”

In this article, we focus our attention on a sample of beta strategies within the equity space. By analyzing each beta’s benefits and limitations, we highlight their ultimate nature as outcome-orientated solutions. We believe the results of our analysis encourage investors to think about beta as a range of complementary tools that should be used to actively rotate portfolios from one indexed strategy to another, based on investors’ goals and on prevailing market conditions.

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The Journal of Index Investing: 6 (1)
The Journal of Index Investing
Vol. 6, Issue 1
Summer 2015
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Smart Beta Strategies as Outcome-Oriented Solutions in the Equity Space
Ursula Marchioni, Sofia Antropova, Catherine McNaught
The Journal of Index Investing May 2015, 6 (1) 65-78; DOI: 10.3905/jii.2015.6.1.065

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Smart Beta Strategies as Outcome-Oriented Solutions in the Equity Space
Ursula Marchioni, Sofia Antropova, Catherine McNaught
The Journal of Index Investing May 2015, 6 (1) 65-78; DOI: 10.3905/jii.2015.6.1.065
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  • Article
    • Abstract
    • A BRIEF HISTORY OF THE EXPANSION OF THE BETA CONTINUUM IN EQUITY SPACE
    • TRADITIONAL AND SMART BETA IN THE EQUITY SPACE: BENEFITS AND CONSTRAINTS
    • FACTOR STRATEGIES: A POWERFUL SET OF SMART BETA SOLUTIONS
    • PUTTING SMART BETA TO WORK
    • CONCLUSION
    • ENDNOTES
    • References
    • BIBLIOGRAPHY
  • Info & Metrics
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More in this TOC Section

  • Smart Beta Multifactor Construction Methodology: Mixing versus Integrating
  • Stacking Blocks or Mixing Paints? Modular and Integrated Approaches to Factor Portfolio Construction
  • The Curious Case of the Mid-Cap Premium
Show more Article

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