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DZ杰 · 2022年07月10日

investment process may not be repeatable.B怎么理解?

NO.PZ2019093001000008

问题如下:

Suppose that the results of a style analysis for an investment manager are not consistent with the stated philosophy of the manager and the manager’s stated investment process. These facts suggest the:

选项:

A.

absence of style drift.

B.

investment process may not be repeatable.

C.

manager should be included in the universe of potential managers.

解释:

B is correct.

The results of the returns-based style analysis and the holdings-based style analysis should be consistent with the philosophy of the manager and the investment process. If this is not the case, it may suggest that the process is not repeatable or not consistently implemented. For these results the manager should not be included in the universe of potential managers, whereas if the results track over time they may suggest style drift.

投资过程不可重复?

1 个答案
已采纳答案

吴昊_品职助教 · 2022年07月11日

嗨,从没放弃的小努力你好:


B选项就是指投资过程无法获得可重复的收益。

题干描述的是投资经理的风格分析结果和经理声称的投资理念或者投资过程不一致,出现这种情况,便无法获得可重复的收益,因此B对。

这种情况也意味着style drift,也就是风格转移。所以A选项是不对的。同时,公司选聘基金经理时这个经理就不应该被放到候选名单里。所以C选项是不对的。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!