Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies(138 Wiley Finance)

Table of Contents:
FOREWORD: THE ROLE OF INDEXING AND BENCHMARKS IN DEVELOPING SOUND INVESTMENT APPROACHES xi Don Phillips PREFACE xv ACKNOWLEDGMENTS xxi CONTRIBUTORS xxvii ABOUT THE EDITOR xxxi CHAPTER 1 Indexing Is Active: The Meaning of Active Indexing and the Interconnected Themes of the Book 1 Steven A. Schoenfeld PART ONE The Indexing Revolution: Theory and Practice 11 Steven A. Schoenfeld CHAPTER 2 The Foundations of Indexing: Theoretical and Practical Underpinnings of a Heretical Concept 13 Binu George, Steven A. Schoenfeld, and Jim Wiandt CHAPTER 3 The Ever-Evolving Uses of Indexing: Why the Active versus Index Debate Is Over 31 Matthew Scanlan, Binu George, Francis Enderle, and Steven A. Schoenfeld CHAPTER 4 Market Uncertainty and the Role of Indexing 49 Adele Kohler PART TWO Benchmarks: The Foundation for Indexing 59 Steven A. Schoenfeld CHAPTER 5 The Vital Importance and Fundamental Uses of Benchmarks 63 Pamela Cloyd, Larry Siegel, and Steven A. Schoenfeld CHAPTER 6 Perfection Impossible: Best Practices for Index Construction 81 Steven A. Schoenfeld CHAPTER 7 The Ideal Index Construction 101 Gus Sauter CHAPTER 8 U.S. Equity Benchmarks—Broad-Cap, Size, and Style Indexes: Slicing and Dicing the U.S. Equity Market 119 Gardner Platt, Brad Pope, and Chad Rakvin CHAPTER 9 International/Global Equity Benchmarks for North American Investors 139 Steven A. Schoenfeld and Robert Ginis CHAPTER 10 Fixed-Income Benchmarks 163 Vache Mahseredjian and Mark Friebel CHAPTER 11 Hedge Fund Benchmarks and Asset Allocation 179 Mark Anson CHAPTER 12 Using Indexes as Analytical Tools: Viewing Changes in the World’s Stock Markets through the Benchmarks 209 Mark Sladkus CHAPTER 13 Socially Responsible Investment and Index Benchmarks 229 Peter Wall PART THREE The Ever-Expanding Variety and Flexibility of Index Products 245 Steven A. Schoenfeld CHAPTER 14 The Wide World of Index Products: Building Blocks for an Efficient Portfolio 249 Steven A. Schoenfeld and Joy Yang CHAPTER 15 Enhanced Indexing: Adding Index Alpha in a Disciplined, Risk-Controlled Manner 277 Steven A. Schoenfeld and Joy Yang CHAPTER 16 Exchange-Traded Funds: A Flexible and Efficient Investment Tool 297 Yigal Jhirad, Omer Ozkul, and David Qian CHAPTER 17 Indexing Real Estate 325 James S. Keagy CHAPTER 18 Active Indexing: Sophisticated Strategies with Index Vehicles 339 Steven A. Schoenfeld, Robert Ginis, and Niklas Nordenfelt PART FOUR Managing Index Funds: It’s Anything but Passive! 361 Steven A. Schoenfeld CHAPTER 19 Fundamental Index Portfolio Management Techniques 365 Steven A. Schoenfeld and Kevin Maeda CHAPTER 20 The Unique Challenges of U.S. Equity Index Management 389 Amy Schioldager, Will Hahn, Ed Hoyt, and Jane Leung CHAPTER 21 Delivering Performance in International Equity Indexing 405 Eleanor de Freitas, Robert Ginis, Creighton Jue, Tom McCutchen, Steven A. Schoenfeld, and Amy Whitelaw CHAPTER 22 Managing Fixed-Income Index Funds 433 Elizabeth Para and Partha Dasgupta CHAPTER 23 Managing Exchange-Traded Funds 455 Lisa Chen and Patrick O’Connor CHAPTER 24 Index-Based Separately Managed Accounts: Delivering on the Performance Promise 479 Mark Adams, Kevin Maeda, and Steven A. Schoenfeld PART FIVE Pulling It All Together: How to Use Index Products to Build an Efficient, Risk-Controlled Investment Strategy 497 Steven A. Schoenfeld CHAPTER 25 Choosing among Index Vehicles: How Does an Institutional Investor Select an Investment Product? 503 Joanne Hill and Barbara Mueller CHAPTER 26 How and Why Large Pension Plans Use Index-Based Strategies as Their Core Investments 535 Nancy Calkins CHAPTER 27 Tax-Efficient Indexation 559 Mark A. Zurack CHAPTER 28 Indexing for Advisors: A Sophisticated Strategy for Professional Investment Advisors and Their Clients 569 Michael J. Chasnoff CHAPTER 29 Indexing for Individual Investors 585 Greg Baer and Gary Gensler CHAPTER 30 Indexing at the Core: The Four Key Axioms for Long-Term Investment Success 607 Steven A. Schoenfeld CHAPTER 31 The Future of Indexing: The Revolution Has Just Begun! 625 Steven A. Schoenfeld GUIDE TO THE E-PPENDIX: www.ActiveIndexInvesting.com, Partnered with IndexUniverse.com 649 ABRIDGED GLOSSARY OF INDEXATION AND QUANTITATIVE INVESTMENT TERMINOLOGY 657 ABRIDGED BIBLIOGRAPHY AND RESEARCH RESOURCES 665 INDEX 671

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. 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.