NO.PZ202206210100000505
问题如下:
In the general comments about asset classes that Fox noted, the most accurate comment is the one regarding:
选项:
A.the overlap of sources of risk. B.emerging markets. C.the return premiums from asset classes.解释:
SolutionC is correct. Asset classes should have a return premium based on an underlying market risk factor (e.g., beta) and not any underlying skill of the investor. Strategies, on the other hand, involve combinations of asset classes with the objective of earning a return based on investment skill.
C is correct. Asset classes should have a return premium based on an underlying market risk factor (e.g., beta) and not any underlying skill of the investor. Strategies, on the other hand, involve combinations of asset classes with the objective of earning a return based on investment skill.
A is incorrect. There will be overlap of sources of risk when asset classes are defined, e.g., US and non-US equities, or even US small and large cap equities will have some risks in common, but there should be as few common risk factors as possible, and they should have only modest correlations.
B is incorrect. Emerging markets equities should be considered a distinct asset class as they differ from other equities in terms of diversification potential, informational efficiency, corporate governance, taxation, and currency convertibility.
为何B不对?