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Carina9999 · 2022年07月17日

but would require the fund to miss out on dividend income from the lent securities.

  1. CFA III
  2. Equity

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NO.PZ201809170400000108

问题如下：

Which of Frey’s statements about securities lending and covered call writing is correct?

选项：

A.

Only Statement 1

B.

Only Statement 2

C.

Both Statement 1 and Statement 2

解释：

B is correct. Writing covered calls also generates additional income for an equity portfolio, but doing so limits the upside from share price appreciation of the underlying shares. Therefore, Statement 2 is correct.

A is incorrect because dividends on loaned stock are "manufactured" by the stock borrower for the stock lender—that is, the stock borrower ensures that the stock lender is compensated for any dividends that the lender would have received had the stock not been loaned. Therefore, Statement 1 is incorrect. Frey is incorrect in stating that the funds would miss out on dividend income on lent securities.

这个 the fund是指哪一方？

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1 个答案

笛子_品职助教 · 2022年07月17日

嗨，爱思考的PZer你好：


这个 the fund是指哪一方？


the fund这里是泛指，并没有指明具体哪个基金。

security lending可以收到股息，statement1的说法不正确。

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NO.PZ201809170400000108

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