Institutional use of smart beta strategies is soaring, according to a new survey of investors managing a total of $2 trillion published by the index provider FTSE Russell.

In a survey canvassing the views of more than 250 asset owners spanning government bodies, private firms, industry-wide pension schemes, non-profits, universities and insurers that was published on May 25, FTSE Russell said 72% of respondents are either already using or "actively evaluating" smart beta products.