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Naaaauu · 2023年08月05日

问一问

NO.PZ2022120703000089

问题如下:

Which of the following ESG strategies is least likely used by private equity firms?

选项:

A.Positive screening B.Thematic investing C.Negative screening

解释:

C is correct because "like other investor types, private equity investors may certainly impose exclusionary screening i.e. negative screening on any number of criteria to restrict investment in certain sectors, either normatively or ethically defined. However, private equity investors do not have the benefit of the breadth and diversity of indices and benchmarks of the listed equities space, limiting opportunities for peer comparability analysis or portfolio optimization efforts around ESG criteria. However, portfolio managers can benchmark segments of the portfolio against smaller investment universes, even including public companies, if data comparability exists. Hence, it is more likely that the GPs may apply some form of positive screening or thematic focus within their respective investment charter"; and least likely that they would use negative screening.

A is incorrect because "private equity investors do not have the benefit of the breadth and diversity of indices and benchmarks of the listed equities space, limiting opportunities for peer comparability analysis or portfolio optimization efforts around ESG criteria … Hence, it is more likely that the GPs may apply some form of positive screening or thematic focus within their respective investment charter."

B is incorrect because "private equity investors do not have the benefit of the breadth and diversity of indices and benchmarks of the listed equities space, limiting opportunities for peer comparability analysis or portfolio optimization efforts around ESG criteria … Hence, it is more likely that the GPs may apply some form of positive screening or thematic focus within their respective investment charter."

老师,这个怎么不选b呢,这是什么知识点考的是

1 个答案

净净_品职助教 · 2023年08月06日

嗨,努力学习的PZer你好:


主题投资跟正面筛选的逻辑类似,都是在一个广泛的投资范围中选取少部分符合要求的股票来进行投资。知识点位置在墨迹版讲义P147,私募投资者无法享受到上市股票领域指数和基准的广度和多样性带来的好处(可选的投资标的非常少),所以一般都是才会用正面筛选或者主题投资的投资方法。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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