NYSE Wang Lei/ZumaPress

ألفا، بيتا، وما يستجد

نيويورك ــ حتى في الأوقات العادية، يواجه المستثمرون الأفراد والمؤسسات المستثمرة على حد سواء وقتاً عصيباً في محاولة تحديد أماكن وبنود الاستثمار المحتملة. فهل ينبغي للمرء أن يزيد من استثماراته في البلدان المتقدمة أم الناشئة؟ وأي من هذه البلدان قد تكون واعدة استثماريا؟ وكيف يتسنى للمستثمر أن يقرر متى وبأي طريقة يعيد التوازن إلى محفظته الاستثمارية؟

من الواضح أن هذه الاختيارات تصبح أكثر صعوبة في الأوقات غير العادية، عندما تحدث تغيرات عالمية كبرى وتتبع البنوك المركزية سياسات غير تقليدية. ولكن هناك نهجاً جديداً ومنخفض التكلفة يَعِد بتخفيف التحديات التي تواجه المستثمرين في الأوقات العادية وغير العادية على حد سواء.

ففي صناعة إدارة الأصول، كان هناك عادة نوعان من الاستراتيجيات الاستثمارية: السلبي والإيجابي. ويشمل النهج السلبي الاستثمار في المؤشرات التي تتبع معايير محددة، ولنقل مؤشر ستاندرد آن بورز 500 للولايات المتحدة أو مؤشر لأسهم الاقتصادات المتقدمة أو الناشئة. وفي واقع الأمر، يشتري المستثمر مؤشر السوق.

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