Scientific Beta

InvestmentNews: "“By making smart beta out to be the new El Dorado as a cheaper form of alpha, smart beta providers are not serving either investors or themselves well, because they can create disappointment,” said Noël Amenc, a professor of finance at EDHEC Business School and director of an indexing business affiliated with the French university."

InvestmentNews 03/02/2015

"(...) Some recent studies have found that a number of strategies labeled smart beta fail to deliver on providing superior risk-adjusted returns to plain indexes. “By making smart beta out to be the new El Dorado as a cheaper form of alpha, smart beta providers are not serving either investors or themselves well, because they can create disappointment,” said Noël Amenc, a professor of finance at EDHEC Business School and director of an indexing business affiliated with the French university. (...)"