The Strathclyde Pension Fund is looking at more innovative, “smart” forms of passive investing for its £3.9 billion index-tracking portfolio, Financial News reports. Strathclyde’s pension manager Legal & General manages £150 billion in traditional indices and £1 billion in alternative versions.

The pension fund is conducting a full review of its investments. The widely used equity and bond indices are based on market capitalization, but alternatives can be constructed that rank companies according to other metrics, including company turnover.

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