NO.PZ202403050400000205
问题如下：
In his response to Yusuf, Cerra’s characterization of the portfolio manager’s investment style, using Exhibit 1, is most likely correct with respect to having a:选项：
A.growth bias. B.contrarian strategy. C.large-cap orientation.解释：
A is correct. Cerra is correct regarding the growth bias. The factor sensitivity for the Value factor is –0.6, which signifies a growth bias. Cerra is incorrect regarding a large-cap orientation and a contrarian strategy. The portfolio factor sensitivity for the Small-Cap factor is 0.5, indicating a small-cap orientation. For the Momentum factor, the factor sensitivity of 0.5 indicates a momentum bias, not a contrarian strategy, which would be true if the factor sensitivity for the Momentum factor were negative and not close to zero.
B is incorrect. Cerra is incorrect with regard to the contrarian strategy. For the Momentum factor, the factor sensitivity is 0.5, which indicates a momentum bias.
C is incorrect. Cerra is incorrect with regard to a large-cap orientation. The portfolio factor sensitivity for the Small-Cap factor is 0.5, indicating a small-cap orientation.
如题
