Client-Driven Research

The Center for Applied Research (CAR) is an independent think tank that resides at State Street and comprises a team of researchers from across the globe.

CAR conducts targeted research designed to provide clients with strategic insights into issues that will shape the future of the investment industry.

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Cap-Weighted Benchmarks

Shifting the Paradigm


We recently launched Artifacts Exposed, our series of short papers focusing on certain methodologies that have become part of our industry’s standard practice. Some of these methodologies have been overused, contributing to the Folklore of Finance. We call these ‘artifacts’.

In our second paper of the series, Cap-Weighted Benchmarks: In Search of a New Paradigm, we’re opening a dialogue on three alternatives to cap-weighted benchmarks: Smart or Advanced Beta, Absolute Return, and Environmental and Social Benchmarks. What are the benefits? What are the challenges?


*The Influential Investor: How Investor Behavior Is Redefining Performance, 2012

Highlighted Publication

The Forgotten Investor

It has been years since the passage of the Dodd-Frank Act, and it appears that individual investors couldn't care less. Or if they do, they have virtually no confidence that these changes will be effective. When it comes to priorities, half of investors say they spend more time reading free catalogues than reviewing their investment statements.

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Upcoming Events

US Institute CIO Roundtable

A membership organization of Institutional Investor


Upcoming Events

The US Institute provides a peer-group networking forum where members privately discuss key industry issues of common concern in a collegial environment.  Agendas and attendees reflect the increasingly global nature and diversity of approaches of the investment industry.

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IQ Insights

Keep it Simple

It can be challenging to see through complexity due to the “Allure of the Expert.” Simplicity seems to be the theme of the day in much of society, and is best illustrated in products such as those from Apple which not only have clean lines, flat surfaces and distinct solid colors but also a user interface second to none in terms of simplicity. The investment world often seems immune to this trend.

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