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tzdsgn · 2023年07月10日

c是太激进了吗

  1. CFA III
  2. Asset Allocation

* 问题详情，请 查看题干

NO.PZ202212280100000502

问题如下：

Based on Exhibit 1, which portfolio best meets the Laws’ goal to fund an endowment for their alma mater?

选项：

A.

Portfolio 1

B.Portfolio 2

C.

Portfolio 3

解释：

B is correct. Portfolio 2 best meets the Laws’ goal to fund an endowment for their alma mater in 20 years. In present value terms, the gift is valued at $500,000, with the Laws desiring a high probability of achieving this goal. Although slightly more conservative than the 75/25 global equity/bond mix, Portfolio 2 has a greater growth emphasis compared with Portfolios 1 and 3. Therefore, Portfolio 2 is best for funding the endowment at their alma mater given the goal’s long-term horizon and the Laws’ desire for a high probability of achieving it.

因为加了10%的hedge c是太激进了吗

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1 个答案

lynn_品职助教 · 2023年07月11日

嗨，从没放弃的小努力你好：


因为加了10%的hedge c是太激进了吗


不是这个原因哦。


我们来看2和3的区别，第一点题目中“Raya concludes that a portfolio of 75% global equities and 25% bonds”，给出了一个75/25的参考。


其次这里的Hedge funds虽然一般意义上是高收益，但是分类写的是diversifying strategies，说明是更偏向于分散化风险，上面两点都能解释，GE更高的2明显更适合成立母校基金会的目标。


我知道有的时候我们会将HF和权益放在一起当作高收益的投资类别，但是我们做题还是要根据这道题给出的信息做判断，CFA确实很纠结，有一部分背景知识默认你要知道，有一部分“常识”你又不能想当然地用，我建议还是要回归题目。三级考察知识点更深入更灵活，它的“套路”不是固定的判断方式，而是一些比较特殊的表述，因此我们一定要从题目中找信息点。

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