Taiwan's BLF lays out the lessons of smart beta investing
The Taiwanese pension fund manager has evolved a smart beta strategy that has showed its worth in a variety of market conditions. The key to success? Rotation.
Similar to several Asia Pacific asset owners, Taiwan’s $175 billion Bureau of Labor Funds (BLF) has been an early adopter of smart beta strategies. Now 10 years on, it has shared some of its experiences with AsianInvestor.
Smart beta funds typically follow indices built using criteria other than simple market capitalisation. Instead, their methodology is based around factors such as book value, total sales or share price volatility.
The idea is to single out different market tre…
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