One of Mamani’s clients, Angel Huanca, anticipates receipt of PEN10,000,000 from debt investments that are maturing in two months. He will invest these proceeds in an IGBVL index fund. Huanca expects the Peruvian stock market to increase dramatically in the next two months and does not want to miss out on the expected gain. He asks Mamani to recommend a way to obtain exposure to the IGBVL immediately. Mamani recommends a long futures position using a two-month futures contract on the IGBVL that is priced at PEN21,800 and has a contract size of PEN10 times the price. The index has a beta of 0.98, and the futures contract has a beta of 1.05.
是求future份数，为什么不用pre-investing的概念求解：即不用beta, N=10million/(10*21800)=46？
我的理解是未来收到10million，所以pre-investing。
现在很疑惑，什么时候用正常调beta的公式？什么时候用synthetic/pre-investing的公式？谢谢。
