看到题干中的HOW让我在IC和TC中犹豫选哪个

问题如下：

Which component on the full fundamental law of active management best discribes how the portfolio managers’ forecasted active return is realized?

选项：

A.

Transfer coefficient.

B.

Information coefficient.

C.

Breadth.

解释：

B is correct.

考点：考察full fundamental law of active management 的公式：IR=TC*IC*√BR里面IC的定义。

解析：IC是衡量基金经理讲话的靠谱程度，定义为Correlation between the forecasted active returns μi, and the realized active returns RAi ，也就是他预测的active return和他真正能实现的active return之间的关系。注意与TC的区分。