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Dongying · 2023年11月12日

asset class separation

Other general comments were noted about asset classes, but Fox could not recall their sources:

  • Emerging market equities should not be considered a separate asset class from global equities.
  • Asset classes differ from strategies in offering a non–skill-based ex ante expected return premium.
  • Asset classes should be defined in such a way that there is no overlap in sources of risk.

Question

In the general comments about asset classes that Fox noted, the most accurate comment is the one regarding:

  1. the overlap of sources of risk.
  2. emerging markets.
  3. the return premiums from asset classes.


为什么选项B不对?


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已采纳答案

lynn_品职助教 · 2023年11月14日

嗨,努力学习的PZer你好:


这道题有点咬文嚼字。


它在这里并不是将emerging market equity与 global equity并列。


注意它的用词from Emerging market equities should not be considered a separate asset class from global equities.


意思是在global equities这个大类当中,emerging market equities不应该单独作为一类资产。emerging market equities在这里是作为global equities的下位概念。


这种说法是不对的。新兴市场股票在global equities中可以视为一种单独的资产类别,因为它们在多元化潜力、信息效率、公司治理、税收和货币可兑换性方面与其他股票不同。例如,global equities分为U.S. Equity、Non-U.S. Equity和Emerging Equity。因此B不选。

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