By: Mat Lystra, senior research analyst
“A leopard can’t change its spots” cannot be said of the markets, public companies or investment strategies. Launched in 1987, the Russell Style Indexes were the first benchmarks that could be used to measure the performance of growth and value strategies. The indexes allow investors to categorize the type of strategy a manager/fund is using (large cap growth, or small cap value, for example) —ignoring how a fund is marketed, to uncover its real DNA. This can be accomplished by comparing benchmark and fund data to reveal a match, giving a clear picture of a leopard’s spots.