TY - JOUR T1 - Practical Applications of A Conversation with Marie Brière JF - Practical Applications SP - 1 LP - 3 DO - 10.3905/cfa.2016.4.1.003 VL - 4 IS - 1 AU - Marie Brière A2 - Picchi, Aimee Y1 - 2016/07/31 UR - https://pm-research.com/content/4/1/1.3.abstract N2 - A Conversation with Marie Brière Marie Brière A recent research article, Factor-Based v. Industry-Based Asset Allocation: The Contest , co-authored by Marie Brière , Head of the Investor Research Center at Amundi , and Ariane Szafarz , Professor at the Université Libre de Bruxelles , pits factor investing against traditional sector-based investing in a series of performance tests.In a conversation with Institutional Investor Journals , Brière talks about her research into factor-based investing. The recent study found that factors achieve higher returns because they capture risk premia through specific exposures. Factors are riskier than sectors, however, and diversification is less efficient across factors. Surprisingly, there is a significant trade-off that is sometimes, but not always, in favor of factor investing. ER -