@article {Jacobs19, author = {Bruce I. Jacobs and Kenneth N. Levy}, title = {Enhanced Active Equity Portfolios Are Trim Equitized Long-Short Portfolios}, volume = {33}, number = {4}, pages = {19--25}, year = {2007}, doi = {10.3905/jpm.2007.690601}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Investors considering the new enhanced active equity strategies such as 120{\textendash}20 or 130{\textendash}30 often ask how these strategies differ from equitized long-short strategies (market-neutral long-short with an equity overlay). Examination of the relation between enhanced active equity and equitized long-short portfolios demonstrates that the two can be shown to be equivalent, but the enhanced portfolio has the advantage of being more compact and requiring less leverage.TOPICS: Portfolio management/multi-asset allocation, portfolio construction, security analysis and valuation}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/33/4/19}, eprint = {https://jpm.pm-research.com/content/33/4/19.full.pdf}, journal = {The Journal of Portfolio Management} }