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Other titles in the Wiley Finance series:
Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies (Wiley Finance Series)by Steven A. Schoenfeld
Synopses & Reviews
For over three decades, both institutional and individual investors have increasingly accepted indexing. Index benchmarks and investment products that track them have been a driving force in the transformation of investment strategy from art to science. Yet investors understanding of the sophistication of this burgeoning field has lagged behind the growing use of index products. Active Index Investing aims to close that gap.
Active Index Investing is the definitive guide to how indexes are constructed, managed as portfolios, and used by investors. Filled with in-depth insight and practical advice, this book illustrates and analyzes every major asset class and covers the perspectives of index fund managers, index providers, institutional brokers, pension plan sponsors and other asset owners, financial advisors, and individual investors. It skillfully explains how the worlds most sophisticated investors use index-based strategies to enhance performance, reduce costs, and minimize the risks of global investing.
This comprehensive guide captures the views of over fifty leading practitioners from all spheres of the indexing worldwhile maintaining a holistic and balanced perspective of this complex subject. Besides pulling together the best minds in the investment business, editor and indexing expert Steven Schoenfeld also shares his considerable insights on this broad and important topic.
Active Index Investing is actually five books in one, with thirty-one chapters providing a comprehensive exploration of:
Fittingly, for a subject so broad, the books scope doesnt end with these topics, but continues in the books "E-ppendix"www.ActiveIndexInvesting.com, partnered with the IndexUniverse.com Web sitewhich expands and updates the information and data provided in the book, facilitating even more perspectives to chronicle the ongoing development of this fascinating and dynamic field.
Active Index Investing is a practical and detailed guide to the art and science of index-based investing. It will show you how index-based strategies can be actively used to both minimize portfolio risk and maximize long-term performance.
Book News Annotation:
This guide to the construction and management of index portfolios is meant to refute the prevailing notion that index investing is a passive activity. Schoenfeld, founder of IndexUniverse.com, Senior Fellow at Duke's Global Capital Markets Center, and managing partner of Global Index Strategies, has organized papers from over 60 investment experts around five topics: theory and practices; benchmark construction; index-based investment products; management techniques for equity and fixed-income funds; and choosing index products. The guide includes a glossary and an online appendix.
Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)
A practical guide to the art of active index investing For almost three decades there has been a strong and steady trend in the adoption of indexing. Index benchmarks have been a driving force behind the transformation of the portfolio construction process from art to science, and leading this science has been Barclays Global Investors (BGI)--the world's largest index fund manager. Active Index Investing informs readers on how indexing is being used as the lynchpin to a number of active investment management strategies and discusses how proactive index fund management and asset allocation can be used to adapt to changing market conditions. Written from the point of view of an active financial professional, this book covers the spectrum of index product innovation, including ETFs, and arms readers with a working knowledge of index investment strategies.
For over three decades, indexing has become increasingly accepted by both institutional and individual investors. Index benchmarks and investment products that track them have been a driving force in the transformation of investment strategy from art to science. Yet investors’ understanding of the sophistication of this burgeoning field has lagged the growing use of index products.
Active Index Investing is the definitive guide to how indexes are constructed, how index-based portfolios are managed, and how the world’s most sophisticated investors use index-based strategies to enhance performance, reduce costs and minimize the risks of investing.
Active Index Investing provides a comprehensive overview of (1) the investment theories that are the foundation of index based investing, (2) best practices in benchmark construction, (3) the growing world of index-based investment vehicles, (4) cutting-edge index portfolio management techniq ues and (5) the myriad ways investors can and do capture the benefits of indexing.
Active Index Investing has a unique format that captures the views and perspectives of over 40 of the investment industry’s leading experts and practitioners, while maintaining a holistic view of this complex subject matter. In addition to the Appendix and Glossary within the book, it features an E-ppendix, available at www.IndexUniverse.com
Index benchmarks have been a driving force behind the transformation of the portfolio construction process from art to science, and leading this science has been Barclays Global Investors (BGI)-the world's largest index fund manager. Active Index Investingexplores how indexing is being used as the lynch-pin to a number of active investment management strategies by investors, and shows how proactive index fund management and asset allocation can be used to adapt to changing market conditions. This book also discusses how BGI can be best used to blend traditional index investment with active portfolio investment strategies.
About the Author
Steven A. Schoenfeld is the Chief Investment Strategist for the Quantitative Management area of Northern Trust Global Investments (NTGI), which encompasses more than $200 billion in index and enhanced index strategies committed to the world’s equity and fixed income markets. He is also a Senior Research Fellow with Duke University’s Global Capital Markets Center. He was the founder of IndexUniverse.com, and was a Managing Partner of Global Index Strategies LLC, a specialized consulting firm. Steven previously served as Chief Investment Officer of Active Index Advisors and as a Managing Director of Barclays Global Investors, responsible for $65 billion in global index funds and ETFs, He developed some of the first emerging market index products while at the International Finance Corporation/World Bank, and traded Japanese stock index futures as a member of the Singapore Exchange. Steven serves on key governance committees for most major benchmark indexes. He was a Fulbright Scholar in economics in Singapore and coauthored The Pacific Rim Futures and Options Markets.
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