Smart-beta allocations still restricted to larger schemes, research shows

first_imgOf those yet to evaluate smart beta, the most common reason cited was a lack of belief it provided any investment merit, stated by 41% of schemes.One-third (32%) said it was because consultants were yet to recommend the option, while one-quarter (24%) cited a lack of resource.The institutions responding to the survey also disagreed on the definition of smart beta, although, amid the ongoing debate, a consensus is forming.Some 45% of respondents said smart beta could be defined as an alternative way to construct market exposures, whereas 22% said it was any index exposure not based on traditional market-cap weightings.While smart beta can be used across both equity and fixed income asset classes, the research focused on usage within shareholdings.The majority of respondents (62%) still only have less than 10% of their equity exposure run under smart-beta strategies, while 18% have more than 20%.However, half of those with allocations expect to increase this in the near future, with around 42% maintaining their set up.This combines with more than three-quarters of schemes currently evaluating allocations expecting to make one within the next 18 months.Of those choosing not to implement a smart-beta strategy, the most common reason was a limited track record from managers, stated by 35% of respondents.The research also found a growing divide in the perception and take-up of smart-beta strategies across Europe and North America.While 40% of European institutions responding have allocations, this fell to 24% in North America.More than 30% of North American investors said they did not anticipate making allocations in the next 18 months, while the proportion evaluating and deciding not to implement was broadly equal between the two regions.Sorca Kelly-Scholte, managing director for client strategy and research, said the research showed the strategy was very much still in its infancy.“The results also confirm that outcome-orientated European investors are embracing smart-beta index tools,” she said. Smart-beta allocations are still restricted to pension funds with greater resource, despite their being seen as a middle ground between passive and active equity allocations, according to research by Russell Investments.Russell’s survey of global institutional investors found that only 9% of pension funds managing less than $1bn (€722m) had smart-beta allocations, compared with 46% for those with more than $10bn in assets. Close to half of these smaller funds also stated no plans to start evaluating allocations to the range of strategies, while around a tenth ruled out allocations altogether.Across all scheme sizes, 32% have allocations, with around one-tenth ruling out any movement into the space.last_img read more

Olympia’s Saturday Drop-off Site for Recycling Closes After November 18

first_imgFacebook8Tweet0Pin0Submitted by City of OlympiaOlympia’s Saturday Drop-off Site, located at 1000 10th Avenue SE, is closing for the season. If you have fall leaves, yard debris or scrap metal to dispose of, bring them to the site between 9:00 a.m. and 2:00 p.m. this Saturday, November 18, 2017. The site will close for the season at 2:00 p.m. this Saturday, November 18, and will reopen the first Saturday in March, 2018.Recycling Still Available During the WeekendCity of Olympia Recycling Customers may continue to bring extra recycling during the off-season. Our acceptance list is the same as your curbside recycling:Plastic bottles, jugs, tubs and bucketsMixed paper and cardboardAluminum Cans, tin cans and potsGlass jars and bottlesNo plastic bags, garbage bags or plastic wrapFees and RatesThere is no fee for recycling or scrap metal disposal. The cost for yard and wood waste vary, depending on volume and the type of material you bring. Customers are required to unload their own vehicles, so bring only what you can physically handle. Visit olympiawa.gov/satdropoff for more information.last_img read more