NO.PZ202207040100000401
问题如下：
From the description of the Soar Fund, the most appropriate classification of its portfolio construction process is:选项：
A.top-down systematic. B.bottom-up systematic. C.bottom-up discretionary.解释：
SolutionB is correct. The Soar Fund has characteristics most consistent with those of a bottom-up systematic manager. Emphasizing security-specific factors is a bottom-up method. Targeting low idiosyncratic risk along with low concentrations indicates a systematic approach, not a discretionary approach. Although the Soar Fund does sometimes consider macro data and events, this is not its primary top-down driver of portfolio construction.
A is incorrect. Although Soar does sometimes consider macro data and events, this is not its primary top-down driver of portfolio construction.
C is incorrect. Targeting low idiosyncratic risk along with low concentrations indicates a systematic approach, not a discretionary approach.
1、老师，请问这句话怎么理解“Soar occasionally considers the economic and geopolitical environment, especially during unusual economic conditions.” 感觉也可以解读为在某些经济环境下，也会对factor进行选择，这不是factor timing么？
2、这题判断为是systematic 主要的点是题目中说降低idiosyncratic risk么？
