NCSSF tips big shift into index strategies in China

China’s flagship pension fund argues that passive investment strategies – and particularly smart-beta exchange-traded funds – will enter mainstream usage for mainland stocks, as the market's efficiency improves. And asset managers broadly agree. The $294 billion National Council for Social Security Fund (NCSSF) last week published a report on China’s stock market, arguing that index-based factor investing would be a major trend among asset owners with lower risk appetites, such as…