问题如下：
Which fund manager’s investing approach is most consistent with fundamental management?
选项：
A.Furlings
Asgard
Tokra
解释：
A is correct. Furlings combines a top-down and bottom-up approach, but in both cases, the allocation process is signifcantly determined according to the managers’ discretion and judgement. There is a strong emphasis on understanding fnancial reporting, and the sector managers focus on a relatively small number for frms. They also extend their analysis to other areas associated with fundamental management, such as valuation, competitive advantages, and governance. Finally, Furlings’s top-down process depends largely on the views and experience of its head manager.
请问一下，第一个是基本面foundamental approach,第二个是quantitative approach,那么第三个方法是什么方法呢？还是quantitative方法么？如果里面提到factor-based,请问因子分析法是否也算是quantitative approach呢？谢谢。
