PT - JOURNAL ARTICLE AU - Ronald N. Kahn AU - Michael Lemmon ED - Scott, Cathy TI - Practical Applications of Smart Beta: <em>The Owner’s Manual</em> AID - 10.3905/pa.2015.3.sb.120 DP - 2015 Dec 31 TA - Practical Applications PG - 1--5 VI - 3 IP - SB 4099 - https://pm-research.com/content/3/SB/1.8.short 4100 - https://pm-research.com/content/3/SB/1.8.full AB - Smart Beta: The Owner’s Manual Ronald N Kahn Michael Lemmon In an interview with Institutional Investor Journals , Ron Kahn and Mike Lemmon , senior executives at BlackRock , describe a new marketplace in which investors need to understand and optimize the sources of their returns and managers need to deliver active returns beyond static exposures to smart-beta factors. Though not a new concept, smart beta has become a disruptive innovation with important ramifications for investors and active managers.