Book description
An informative guide offering new and innovative ways to think about
active management and investing
ActiveBeta Indexes presents exciting new research that shows
how above-market returns can be achieved in a low-cost, transparent,
and efficient fashion. Active Betas reflect fundamental investment
principles that have long been the foundation of active equity
returns, but are commonly masqueraded as investment skill, or alpha.
This groundbreaking book lifts the veil to uncover the common sources
of active returns and reveals their beta-like properties.
Developed by leading investment practitioners at Westpeak Global
Advisors, ActiveBeta Indexes introduces Active Beta sources and
explains how the behavior of short- and long-term earnings growth
gives rise to systematic sources of active equity returns.
- Details a new index framework and research findings that could
change the face of active portfolio management
- Presents patent-pending innovations for constructing style
indexes and informationally-efficient active portfolios
- Explores the historical performance of ActiveBeta Indexes
Wealth advisers, consultants, pensions and endowments, and other
institutional investors will find the intellectual honesty of
ActiveBeta Indexes a refreshing perspective on the active
management industry. They will also find it a useful guide to a more
strategic allocation of their risk and management fee budgets - a
growing necessity in these challenging times.
Khalid Ghayur is the CEO and CIO of Westpeak
Global Advisors, LP. He was director of research policy, a member of
the Global Executive Committee, and chairman of the Index Policy
Committee at Morgan Stanley Capital International (MSCI) Barra. Prior
to this, he was global head of quantitative research and strategy for
HSBC Global Asset Management. He is a CFA charterholder, has served on
the Board of Governors of the CFA Institute, and is a former trustee
of the CFA Institute Research Foundation. He received an MBA in
finance and international business from the École Nationale des Ponts
et Chaussées and an MA and BA in economics from the University of Karachi.
Ronan G. Heaney is Director of Research at Westpeak. Before
joining Westpeak, he was a software architect with Multum Information
Services and a senior software developer at Swiss Bank Corp. He holds
an MS in computer science from Purdue University and a BS in applied
physics from Dublin City University, Ireland.
Stephen A. Komon is a Senior Portfolio Manager at Westpeak.
Prior to this, he was vice president of foreign exchange and
commodities at J. P. Morgan & Co., and he also held positions with
UBS AG/Swiss Bank and Dean Witter Reynolds. He holds an MBA in finance
and accounting from the University of Chicago Booth School of Business
and a BS in commerce from the University of Virginia. He is also a CFA charterholder.
Stephen C. Platt is Director of Portfolio Management at
Westpeak. Before joining Westpeak, he cofounded and was a senior vice
president of Cordillera Asset Management. He holds a BS in finance
from the University of Colorado Leeds School of Business and is a CFA
charterholder.
