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Lucrecia1004 · 2020年08月23日

问一道题:NO.PZ2019093001000022

问题如下:

An investor should prefer a pooled investment vehicle to a separately managed account when she:

选项:

A.

is cost sensitive.

B.

focuses on tax efficiency.

C.

requires clear legal ownership of assets.

解释:

A is correct.

Pooled investment vehicles are typically operated at a lower cost than separately managed accounts because operational costs can be spread among multiple investors. An investor who is focused on tax efficiency would prefer a separately managed account because a separate account allows the implementation of tax-efficient investing and trading strategies, and the investor pays taxes only on capital gains realized. If the investor requires clear legal ownership, they would prefer a separately managed account in which the investor owns the individual security directly.

老师好,A的意思翻译过来不是价格敏感吗?那和成本低有什么关系呢?

1 个答案

吴昊_品职助教 · 2020年08月24日

同学你好:

题干的意思是投资者如果价格敏感,就会选择pooled investment,因为SMA的缺点是贵。