Active Index Investing For over three decades, both institutional and individual investors have increasingly accepted indexing, index benchmarks and the investment products that track them.  Through this process, indexing has become a driving force in the transformation of investment strategy from a subjective art to a more appropriate blend of art and science. Yet many investors' understanding of the sophistication of this burgeoning field has lagged behind the growing use of index products. Active Index Investing aims to close that gap, and provides a comprehensive review of the theories, products and strategies that have enabled investors to benefit from the 'indexing revolution' that contiues to gain momentum around the world.  And this website aims to supplement the book's 31 chapters with updated data, additional content and sidebars, and an opportunity for your feedback.  I hope you find both the book, which was recently published in Japanese, and it's E-ppendix informative and useful.		What is an E-ppendix?     For Novices     For Academics     For Professionals     For Fun     E-ppendix Your Book     Discuss the Book

Part One    -	The Indexing Revolution - Theory And Practice
Part Two    -	Benchmarks - The Foundation For Indexing... And All Investing
Part Three -	The Ever-Expanding Variety and Flexibility of Index Products - A Global Overview
Part Four   -	Managing Index Funds - It´s Anything but Passive!
Part Five    -	Pulling It All Together - How to Use Index Products to Build And Efficient Risk-controlled Investment Strategy
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"There is a great fiction in many parts of the investment industry: that indexing is a ‘passive’ strategy. This book clearly shows why that belief is wrong. Steven Schoenfeld and the broad group of contributors he has assembled lay out a compelling case for why both the management and use of index funds are very active processes.
Steven is a thought leader in the investment management field, and now he has provided a book that makes his knowledge available to everyone. Anyone involved with money management will want to read this book. It will become a standard reference text for years to come as more investors understand the role of indexing as part of active portfolio management.”
—Lee Kranefuss
CEO, Exchange Traded Funds
Barclays Global Investors

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Sanjay Arya
Director, Morningstar Indexes
Morningstar, Inc.

Sanjay Arya is the director of Morningstar Indexes. He is responsible for business strategy, product development and distribution of Morningstar Indexes. In this capacity, Arya works with existing and potential clients to build partnerships to enhance the usage and applications of Morningstar Indexes.

In his 10 years at Morningstar, Arya has served in several capacities. Prior to his current position, he was the director of equity data analysis, where he helped develop Morningstar's fundamental equity databases for publicly traded companies. He has served on an industry task force for improving the distribution and transparency of mutual fund pricing. He has made numerous presentations on index related topics at professional conferences, meetings of professional organizations, and professional education programs. His opinions have been quoted in the industry and trade publications and he currently sits on the review board of the Journal of Indexes .

Arya holds a bachelor's degree in chemical engineering from Panjab University in India, and has an MBA in finance from Cleveland State University. He holds the Chartered Financial Analyst (CFA) designation and a member of the Investment Analysts Society of Chicago.

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