PT - JOURNAL ARTICLE AU - John W. Southard TI - Intelligent Indexes DP - 2003 Sep 21 TA - ETFs and Indexing PG - 95--100 VI - 2003 IP - 1 4099 - http://guides.pm-research.com/content/2003/1/95.short 4100 - http://guides.pm-research.com/content/2003/1/95.full AB - As it becomes more commonplace for indexes to be used as investments, the resulting performance objective necessitates not only that it be obtained responsibly through proper portfolio construction techniques and a robust security valuation process, but that the performance is delivered in the most cost- and tax-efficient manner possible. The need for more intelligent indexes stems from three primary market needs: 1) the limitations of existing benchmark indexes when used as investments; 2) the need to deliver investment performance as proficiently as possible; and 3) the need for objective research in the portfolio management process.