问题如下：
SD&R Capital (SD&R), a global asset management company, specializes in fixed-income investments. Molly Compton, chief investment officer, is meeting with a prospective client, Leah Mowery of DePuy Financial Company (DFC).
Mowery informs Compton that DFC’s previous fixed income manager focused on the interest rate sensitivities of assets and liabilities when making asset allocation decisions. Compton explains that, in contrast, SD&R’s investment process first analyzes the size and timing of client liabilities, then builds an asset portfolio based on the interest rate sensitivity of those liabilities.
The investment process followed by DFC’s previous fixed-income manager is best described as:
选项：
asset-driven liabilities
asset-driven liabilities
liability-driven investing
asset–liability management
解释：
C is correct.
Asset–liability management strategies consider both assets and liabilities in the portfolio decision-making process. Mowery notes that DFC’s previous fixed-income manager attempted to control for interest rate risk by focusing on both the asset and the liability side of the company’s balance sheet. The previous manager thus followed an asset–liability management strategy
请教一下，题目里不是说了“first analyzes the size and timing of client liabilities, then builds an asset portfolio based on the interest rate sensitivity of those liabilities”，先从liability出发来构建组合，为啥不是liability-driven呢？
