I takt med att allt fler investerare söker efter sätt att diversifiera sina placeringar ökar intresset för smart beta produkter. ETF utgivarna växer alltmer tack vare smart beta eftersom allt fler placerare investerar i smart beta ETFer.
Vi är väldigt mycket engagerade i tillväxten av smart beta, sa Sharon French, chef för beta strategier hos OppenheimerFunds, på Charles Schwab Impact Conference. I det finns det flera olika kategorier som du kan delta i. Den första är väsentligen viktad, som vi redan är genom inkomstvägda strategier. För det andra är enfaktor och den tredje är multifaktorer. Självklart finns det börshandlade fonder som möter upp alla dessa inritkningar.
Smart Beta
Smart beta investment portfolios offer the benefits of passive strategies combined with some of the advantages of active ones, placing it at the intersection of efficient-market hypothesis and classic value investing.
Offering an optimal blend of active and passive styles of management, a smart beta portfolio is low cost due to the systematic nature of its core philosophy – achieving optimal efficiency by way of tracking an underlying index (e.g., MSCI World Ex US). Combining with optimization techniques traditionally used by active managers, the strategy can offer risk/return potentials that are more attractive than a plain vanilla active or passive product.
Originally theorized by Harry Markowitz in his work on Modern Portfolio Theory (MPT), smart beta is a response to a question that forms the basis of MPT – how to best construct the optimally diversified portfolio. Smart beta answers this by allowing a portfolio to expand on the efficient frontier (post-cost) of active and passive. As a typical investor owns both the active and index fund, most will benefit from adding smart beta exposure to their portfolio in addition to their existing allocations.