Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies

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Wiley, Aug 10, 2004 - Business & Economics - 688 pages
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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 world’s 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 world–while 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:
  • The theories and practical experience that are the foundations for indexing
  • The uses of indexes and best practices in benchmark construction
  • The ever-expanding range of index-based investment products and vehicles
  • Index portfolio management techniques for equity and fixed-income funds
  • Choosing between various index products and the ways in which sophisticated investors harness the overall benefits of indexing

Fittingly, for a subject so broad, the book’s scope doesn’t end with these topics, but continues in the book’s "E-ppendix"–www.ActiveIndexInvesting.com, partnered with the IndexUniverse.com Web site–which 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.

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About the author (2004)

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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