Based on Exhibit 1, the component of the expanded implementation shortfall for the trading of the securities from the UPX Fund that is most favorable to Quagmire Funds is the:
- delay cost.
- trading cost.
- opportunity cost.
B is correct. Expanded implementation shortfall (IS) = Delay cost + Trading cost + Opportunity cost + Fees. Note that to reflect that shares are being sold rather than purchased, the “number of shares sold” is a negative value.
老师，没看懂这题问的意思，可否讲解一下相关的题眼和知识点？
