Detail The Rise of Smart Beta; Fund Management   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 8843 no. 407 (Jul. 2013), page 68. Topik: Beta; Portfolio Management; Mutual Funds Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE19 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Smart beta is an approach that tries to enhance the return from tracking an asset class by deviating from the traditional "cap-weighted" approach, in which investors simply buy shares or bonds in proportion to their market value. The sector is still small: there is just $142 billion in smart-beta funds, compared with more than $2 trillion stashed in hedge funds. However, the concept is catching on. According to State Street Global Advisors, smart-beta funds received inflows of $15 billion in the first quarter of 2013, up by 45% on the same period a year earlier. There is a variety of smart-beta approaches. The simplest is to give each market constituent equal weight. If there are 100 stocks, then each would have a weighting of 1%. A second approach, dubbed "fundamental indexing", is to weight each company by its financial characteristics--sales, dividends, assets or cashflow. A third is to weight the index in terms of the volatility of the stocks, with the least volatile being favoured. A fourth is to use the momentum effect to buy stocks that have recently risen in price. That's just for starters. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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