Equity Factor Investing: Quality

Fadi Zaher ()
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Fadi Zaher: Index Solutions & Investment Specialists

Chapter 5 in Index Fund Management, 2019, pp 77-98 from Springer

Abstract: Abstract While value investing is a well-defined concept among professionals and academics, the definition of high quality companies is much broader and less consistent. Quality often means investing in companies with sustainable and traditional business models—say, elevator technology or healthcare as examples. This chapter discusses how the quality factor is typically measured and designed. It further highlights some key debates, both qualitative and quantitative, and discusses the key drivers of their risk and return. Depending on the choice of characteristics, performance can differ substantially between various quality factor definitions. In general, investors should keep an open mind as to whether a quality factor makes a good investment on its own and whether it should be combined with other factors in the overall portfolio.

Date: 2019
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DOI: 10.1007/978-3-030-19400-0_5

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