问一道题：NO.PZ2018113001000032

NO.PZ2018113001000032 问题如下 A $100 million portfolio is allocate70% to mestic stocks an30% to international stocks. The manager wants to crease the exposure to mestic stocks aninvest the funto internationstocks equity swap. The best choito structure the swis? pmestic stocks’ return anreceive internationstocks’ return pinternationstocks’ return anreceive mestic stocks’ return pmestic stocks’ return anreceive bons return. A is correct. 考点：equity swap 解析： 现在投资者希望减少mestic stock头寸，增加internationstock头寸，所以应该支付mestic stock收益，换取（收到）international stock的收益。 请问C为什么不可以

pinternationstocks’ return anreceive mestic stocks’ return pmestic stocks’ return anreceive bons return. A is correct. 考点equity sw解析 现在投资者希望减少mestic stock头寸，增加internationstock头寸，所以应该支付mestic stock收益，换取（收到）internationstock的收益。 老师  您好！我对于swap有些不懂。我知道为了降低mestic stock的exposure必须换出mestic stock，换入internationstock；然而到了return，不是应该反向吗？即支付aler方internationstock的return，收到mestic stock的return吗？  谢谢。