PT - JOURNAL ARTICLE AU - Alexander Swade AU - Harald Lohre AU - Mark Shackleton AU - Sandra Nolte AU - Scott Hixon AU - Jay Raol TI - Macro Factor Investing with Style AID - 10.3905/jpm.2021.1.306 DP - 2021 Dec 31 TA - The Journal of Portfolio Management PG - 80--104 VI - 48 IP - 2 4099 - https://pm-research.com/content/48/2/80.short 4100 - https://pm-research.com/content/48/2/80.full AB - Investors face similar macroeconomic risks and opportunities regardless of their individual investment preferences. To best navigate growth and inflation concerns, the authors propose building macro factor–mimicking portfolios diversified across asset classes and style factors. They focus on the macro factors growth, inflation, and defensive. Their approach allows for shaping the macroeconomic risk exposure of a given portfolio by applying systematic macro factor completion to effectively address specific economic outcomes.