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VickyC · 2025年03月28日

啊为什么不是选项c

NO.PZ2025012209000015

问题如下:

The most important information that a client would like to understand when reviewing request for proposals to hire an asset manager is:

选项:

A.the source of ESG data the manager uses in their investment process.

B.that the manager can deliver in practice what is set out in the policy documents.

C.the number of engagement activities the manger has undertaken and the outcomes of those activities.

解释:

B is correct. The most important information a client wants to understand from the RFP is that the manager actually delivers in practice what is set out as the approach in policy documents. The source of ESG data and the results of engagement activities are things a client might be seeking to understand, but they are not the most important as in isolation they will not provide information on if the manager can deliver what the client is seeking.

选项c不也可以作为参考的一个因素嘛?

1 个答案

王岑 · 2025年03月29日

嗨,从没放弃的小努力你好:


资产管理人能否真正执行他们在RFP或ESG政策文件中承诺的投资流程与方法,才是客户(资产所有者)最关心的根本问题。换句话说,客户最在意的不是纸面写得多漂亮,而是:你说的这些承诺,你有没有真正落地做出来。C选项是 “the number of engagement activities and the outcomes of those activities” 这当然也重要,但它是对“参与(engagement)”这个策略的一部分验证,只能体现:
  • 资产经理有没有和企业互动?
  • 有没有投票?有没有推动企业改进?

但问题是:就算你跟公司做了很多次engagement,如果你没有遵照你的ESG整合流程来选股、定价、构建组合,客户可能还是不满意。也就是说,engagement只是一个手段,不是全过程。

所以,B是核心,因为它直接反映资产经理的执行力和可信度。

这里可以看一下教材P546。


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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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