BNPP IP: Low volatility, the hidden factor

Robert Haugen, who discovered the low-volatility anomaly in 1972, wrote numerous articles and books to try to popularise what he called the ‘hidden factor’. To some extent, it was only the advent of smart beta investment strategies that turned his dream into reality, as low volatility is central to the smart beta approach.

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BNPP IP: Low volatility, the hidden factor