NO.PZ2018120301000021
问题如下：
SD&RCapital (SD&R), a global asset management company, specializes in fixed-incomeinvestments. Molly, chief investment officer, is meeting with a prospectiveclient, Leah of DePuy Financial Company (DFC).
Leah informs Molly thatDFC’s previous fixed-income manager focused on the interest rate sensitivitiesof assets and liabilities when making asset allocation decisions. Mollyexplains that, in contrast, SD&R’s investment process first analyzes thesize and timing of client liabilities, and then it builds an asset portfoliobased on the interest rate sensitivity of those liabilities.
Theinvestment process followed by DFC’s previous fixed-income manager is bestdescribed as
选项：
A.
asset-driven liabilities.
B.
liability-driven investing.
C.
asset–liability management.
解释：
Correct Answer: C
C is correct. Asset–liability management strategies consider both assets and liabilities in the portfolio decision-making process. Leah notes that DFC’s previous fixed-income manager attempted to control for interest rate risk by focusing on both the asset and the liability side of the company’s balance sheet. The previous manager thus followed an asset–liability management strategy.
后面的这种是liab driven,他不是说跟前面的那种方式in contrast相反吗？那不是应选asset driven？
