NO.PZ2022010601000008
问题如下：
Johnson received the inheritance from his family—securities, and he wanted to use the property for alternative investments. He gave the property to GTA, a professional wealth management company. The fund manager of GTA company estimated that it would take about a year for the assets of the foundation to be invested in alternative assets after completing the liquidation of the transferred securities. Which statement best describes the requirements of the GIPS standard? Company GTA must include Johnson's investment portfolio in the appropriate combination:
选项：
A.
on a timely and consistent basis.
B.
when the assets are substantially invested.
C.
as of the beginning of the next full measurement period.
解释：
A is correct.
The GIPS standards state, “Composites must include new portfolios on a timely and consistent basis after each portfolio comes under management.”
GIPS 标准规定，“在管理每个组合后，Composites 必须及时且一致地包括新组合。”在这种情况下，根据composite策略，预计需要较长时间来投资新客户的资产。假设Company GTA 符合 GIPS 标准，其书面政策将规定及时将新的银行贷款组合纳入Composites 。例如，Company GTA 的政策可能要求从资产被完全投资的第一个完整计量期开始，将新的投资组合包括在Composite中。
然后这个题牵强的解释，是没说明在 the assets are fully invested. 的as of the beginning of the next full measurement period.
另一个回答下面看到老师说的这句话，没看懂要表达的意思，是说GIPS要求，比如1亿资金要全部都投资完成之后才能放入到composite吗？
比如，1亿资金要用三个月才能投资完成，完成日期是3月15日，那么要从4月1日开始放入composite来计算业绩？
还是说每一笔完成就放一次，比如1月12完成了第一笔2000万，那就在2月1日起把2000万放到composite里了？
