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豆好 · 2023年10月14日

A答案的解释是不是说反了

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NO.PZ202207040100000802

问题如下:

The Mattley Fund manager is most likely following which investment style?

选项:

A.Sector rotation

B.Closet indexing

C.Diversified stock picking

解释:

Solution

C is correct. The Mattley Fund exhibited relatively high Active Share but relatively low active risk. High Active Share indicates that a manager’s holdings differ substantially from the benchmark, and low active risk indicates low idiosyncratic risk resulting from diversification: This combination indicates that the manager most likely follows a diversified stock picking strategy. A sector rotator typically has high active risk and could have either high or low Active Share, depending on whether a concentrated or diversified portfolio approach was followed. A closet index would exhibit both low Active Share and low active risk, because such funds make few active bets.

A is incorrect. A sector rotator typically has high active risk and could have either high or low Active Share, depending on whether a concentrated or diversified portfolio approach was followed.

B is incorrect. A closet index would exhibit both low Active Share and low active risk, because such funds make few active bets.

Sector rotation 应该是active share 高,active risk 可高可低吧?

1 个答案
已采纳答案

笛子_品职助教 · 2023年10月16日

嗨,努力学习的PZer你好:


A答案的解释是不是说反了


A 的答案解释正确的。没有说反。

sector rotator 有concentrated sector rotator与diversified sector rotator。两者的active share确实不同。

concentrated具有high Active Share

diversified 具有 low Active Share


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努力的时光都是限量版,加油!

菜頭 · 2024年02月09日

diversification 到底是看active risk 还是active share啊?

ica.kiwi · 2024年07月30日

为什么concentrated具有high Active Share呢?同时,为什么diversified 具有 low Active Share?

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