我的回答：
To lower active risk, Swanson could
- diversify its portfolio as the benchmark is a fully diversified portfolio by doing this could increase the correlation with the benchmark and hence lower the active risk
- choose a more appropriate benchmark given large portion was allocated to tech sector and no single financial sector name is held. May be a tech-related benchmark is more appropriate and the active risk could be lower.
标准答案：
Two changes Swanson could make to lower active risk are:1) reduce the level of security concentration in the portfolio, and 2) increase the sector diversification of the portfolio. This could be achieved for the Legends Fund by adding more stocks to the portfolio and adding exposure to relatively underweighted sectors(such as financials).
Reducing the level of security concentration would decrease the active share of the portfolio and lower the level of active risk.
Increasing the sector diversification of the portfolio would increase the degree of cross- correlation of the portfolio and lower the level of active risk.
感觉第一点我写的对的，但是第二点就不对了。
是不是第二点这不是一个好的回答方向？协会还是想要看到increase the sector diversification这种答案？
以及能不能在这个基础上再总结一下如何降低active risk的原则性方向？下面这两个可以当作结论记忆吗？
1）reduce the level of security concentration
2） increase the sector diversification
