Which equity style is referred to as market-oriented?

The term "market-oriented" typically refers to an investment approach that does not strictly adhere to the principles of either value or growth investing. Instead, this style seeks to capture broader market trends and events, often investing in stocks based on current market conditions rather than a predefined investment philosophy.

A market-oriented strategy may involve investing in a diversified portfolio that includes both value and growth stocks, depending on prevailing market conditions, investor sentiment, and trends. This approach allows investors to adapt to market movements and capitalize on opportunities without being restricted to the characteristics of strictly defined investment styles.

In contrast, value-oriented strategies focus on undervalued stocks, while growth-oriented strategies invest in companies expected to grow at an above-average rate. A hybrid approach combines elements of both styles but still implies a certain preference for either value or growth characteristics, which does not align with the definition of a market-oriented strategy. Thus, the choice that best reflects a market-oriented strategy is one that encompasses neither strictly value nor growth principles.