不懂

问题如下：

Based on Zhang’s comment to Godwin related to Exhibit 1, the type of benchmarking that she is planning is best described as a(n):

选项：

A.factor model. B.absolute return. C.manager universe.

解释：

Solution

C is correct. A manager universe, or manager peer group, is a broad group of managers with similar investment disciplines. Although not a benchmark per se, a manager universe allows investors to make comparisons with the performance of other managers following similar investment disciplines.

A is incorrect. Factor-model-based benchmarks are constructed by regressing the portfolio’s return against the factors believed to influence returns.

B is incorrect. An absolute return benchmark is a minimum target return that the manager is expected to beat. It will not determine how the manager performed relative to other managers.