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Cherry · 2024年01月13日

Active management takes place up front rather than continuously?

NO.PZ2019012201000007

问题如下:

TMT fund is a passively managed equity fund. Therefore, compared with an actively traded fund, both of its trading frequency and trading costs are lower. Is it correct on both trading frequency and trading costs?

选项:

A.

Only on trading frequency.

B.

Only on trading costs.

C.

Yes, they are both correct.

解释:

C is correct.

考点:Investment Approaches

解析:被动型管理的基金往往会选择被动地投资指数,因此交易频率显著低于主动型管理的股票投资组合,交易频率低,交易费用少。

老师在强化串讲里专门提到active management takes place up front rather than continuously, 这句话要怎么理解?

老师说的是因为主动型weight的变化,买了就不动了,这个不是频率少的意思吗?

如果不是,那这句话要怎么理解,和这道题又怎么区分呢

1 个答案

笛子_品职助教 · 2024年01月14日

嗨,从没放弃的小努力你好:


takes place up front rather than continuously意思是:

基本面的调仓时间是不固定的(takes place up front ),公司基本面有变化,随时调整仓位。

基本面可能1天就变化,可能1个月就变化,也可能1年才变化 ,甚至5-10年,都没有变化。


而量化的调整时间是固定的(continuously),量化策略会规定,每周必须调仓一次,或者每月必须调仓一次。

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努力的时光都是限量版,加油!

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