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“An Index Isn’t a Fiduciary” and What That Means for Active Management

Adam L. Berger
The Journal of Beta Investment Strategies Spring 2021, jii.2021.1.102; DOI: https://doi.org/10.3905/jii.2021.1.102
Adam L. Berger
is a senior managing director and leader of the Investment Strategist team at Wellington Management Company in Boston, MA
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jii.2021.1.102
DOI 
https://doi.org/10.3905/jii.2021.1.102

Published By 
Pageant Media Ltd
Print ISSN 
2771-6511
Online ISSN 
2771-6511
History 
  • Published online March 20, 2021.

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  • You are currently viewing a Latest version of this article (March 20, 2021 - 01:41).
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© 2021 Pageant Media Ltd

Author Information

  1. Adam L. Berger
    1. is a senior managing director and leader of the Investment Strategist team at Wellington Management Company in Boston, MA. (alberger{at}wellington.com)
  1. To order reprints of this article, please contact David Rowe at d.rowe{at}pageantmedia.com or 646-891-2157.
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The Journal of Beta Investment Strategies: 13 (4)
The Journal of Beta Investment Strategies
Vol. 13, Issue 4
Winter 2022
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“An Index Isn’t a Fiduciary” and What That Means for Active Management
Adam L. Berger
The Journal of Beta Investment Strategies Mar 2021, jii.2021.1.102; DOI: 10.3905/jii.2021.1.102

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“An Index Isn’t a Fiduciary” and What That Means for Active Management
Adam L. Berger
The Journal of Beta Investment Strategies Mar 2021, jii.2021.1.102; DOI: 10.3905/jii.2021.1.102
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  • Article
    • Abstract
    • WHAT IS AN ACTIVE STRATEGY?
    • WHAT’S WRONG WITH THE PASSIVE APPROACH?
    • DO WE PUT TOO MUCH STOCK IN THE ZERO-SUM ARGUMENT?
    • HOW DO CAP-WEIGHTED INDICES FALL SHORT?
    • WHAT SHOULD INVESTORS DO?
    • CONCLUSION
    • ACKNOWLEDGMENT
    • Disclosure
    • REFERENCES
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