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xgxinw · 2025年01月12日

GIPS

NO.PZ2022010501000010

问题如下:

A charitable foundation transfers securities in kind to Taurus Asset Management Ltd. to fund a new bank loan portfolio. Taurus estimates that after liquidating the transferred securities, it will take five months to invest the foundation’s assets in bank loans. Which statement best describes a requirement of the GIPS standards? Taurus must include the foundation’s portfolio in the appropriate composite:

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.” In this case, it is expected to take an extended period to invest the new client’s assets in accordance with the composite strategy. Assuming Taurus complies with the GIPS standards, its documented policy would provide for the inclusion of new bank loan portfolios in the composite on a timely basis. For example, Taurus’s policy may require new portfolios to be included in the composite as of the first full measurement period that the assets are fully invested. Taurus must apply its policy consistently.

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 Taurus 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,Taurus 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。

1.老师,A是一个广义的说法是吗,就是不管什么题目条件,都适用,,就是一个基本原则

2.就算他改成fully invested,2是不是也不对,起码没说全,如果在月中构建完成,要在next period放入composite

1 个答案

伯恩_品职助教 · 2025年01月13日

嗨,努力学习的PZer你好:


是的,你说的都是对的

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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