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Philippe Goubeault : « We could replace a benchmarked fund by a ’Smart Beta’ index »

According to Philippe Goubeault, CFO of Agirc Arrco, ’Smart Beta’ strategies can already be part of the asset allocation program of Agirc and Arrco even if their current weight in existing portfolios is not significant ...

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Next-Finance : What is your view on the current enthusiasm for "Smart Beta" strategies?

Philippe Goubeault : Strategies based on "Smart Beta" indices are one of the key driver of the current interest in quantitative management. These smart indices are now part of our allocation program as they provide good diversification and add value to a portfolio.

To what extent such strategies could be used in your portfolios

’Smart Beta’ strategies can already be part of the asset allocation program of Agirc and Arrco even if their current weight in existing portfolios is not significant. We are indeed at the beginning of our analysis process.

Given our regulatory constraints, perspectives and management targets, strategies such as "Smart Beta" are part of our active asset allocation program.

Philippe Goubeault, CFO, Agirc Arrco

Would you replace a benchmarked portfolio by an "Smart Beta" index ?

Yes, absolutely, we could replace a benchmarked fund by a "Smart Beta" index. However, let’s not forget that such move is currently marginal

Would you add "Smart Beta" strategies to your active or passive allocation bucket?

Given our regulatory constraints, perspectives and management targets, strategies such as "Smart Beta" are part of our active asset allocation program. They are implemented through external portfolio management companies

RF , April 2013

Article also available in : English | français

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