opkirk and her team examine the fund descriptions and consider both holdings-based and returns-based approaches to style classification. Intending to select a top-down fundamentally driven manager, she considers three candidates from Lunnar Associates, as shown in Exhibit 1.
Exhibit 1
Lunnar Associates Funds under Consideration
Based on the information in Exhibit 1, which of the funds from Lunnar Associates most likely follows a top-down fundamental approach?
您的回答C, 正确答案是: B
A
Lunnar A
B
Lunnar B
C
不正确Lunnar C
解析
B is correct. Lunnar B uses a top-down fundamental approach because it requires manager discretion in considering future long-term trends and short-term opportunities in the global economy (i.e., a fundamental approach). The strategy is executed by using different portfolio weightings on indexes rather than individual corporate securities, making it top down rather than bottom up.
A is incorrect. Lunnar A is passively managed because the portfolio weights are set without input from the fund manager’s future beliefs.
C is incorrect. Lunnar C is actively managed but uses a bottom-up strategy focused on the expected future prospects of individual securities.
老师，请问fundmental 是怎么确定的？
