NO.PZ202212270100001902
问题如下：
Based on Exhibit 2, the decision to overweight or underweight which of the following regions contributed positively to performance at the overall fund level?
选项：
A.North America
Greater Europe
Developed Asia and Australasia
解释：
Correct Answer: C
The decision to
underweight developed Asia and Australasia was a good one because the benchmark
for this region underperformed the total benchmark (12.85% versus 22.67%).
Alternatively, the question can be answered by calculating the allocation
effects for the three regions, as follows:
Allocation = (wi –
Wi)(Bi – B)
North America =
(10.84% – 7.67%)(16.47% – 22.67%) = –0.20%
Greater Europe =
(38.92% – 42.35%)(25.43% – 22.67%) = –0.09%
Developed Asia and
Australasia = (29.86% – 31.16%)(12.85% – 22.67%) = 0.13%
Developed Asia and
Australasia is the only region of the three that had a positive allocation
effect.
老师，为什么这个是看allocation是正的呢？怎么理解？
因为我想的是，应该去投资portfolio return大于total return的那一个呀，那这样多加权重，不就return增加了吗？
而且这道题里面的overweight or underweight这里我也不是很懂，是啥意思？不管增加还是减少，都能增加return的意思吗？感觉不应该呀。
