The Goldilocks effect

How will the threat of overcrowding and an end to QE impact the burgeoning rise of smart beta?

Since its August 2013 launch, GSA Capital’s Trend Fund has amassed a staggering $3.8bn in AuM. On the back of annualised returns of 13.6% since inception and a flat management fee of 50bps, the London-based manager has become the poster child for smart beta. The clamour of investors looking to