PT - JOURNAL ARTICLE AU - Bruce I. Jacobs AU - Kenneth N. Levy TI - Enhanced Active Equity Portfolios Are Trim Equitized Long-Short Portfolios AID - 10.3905/jpm.2007.690601 DP - 2007 Jul 31 TA - The Journal of Portfolio Management PG - 19--25 VI - 33 IP - 4 4099 - https://pm-research.com/content/33/4/19.short 4100 - https://pm-research.com/content/33/4/19.full AB - Investors considering the new enhanced active equity strategies such as 120–20 or 130–30 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