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良爱洳 · 2020年09月12日

问一道题:NO.PZ2019093001000008 [ CFA III ]

问题如下:

Suppose that the results of a style analysis for an investment manager are not consistent with the stated philosophy of the manager and the manager’s stated investment process. These facts suggest the:

选项:

A.

absence of style drift.

B.

investment process may not be repeatable.

C.

manager should be included in the universe of potential managers.

解释:

B is correct.

The results of the returns-based style analysis and the holdings-based style analysis should be consistent with the philosophy of the manager and the investment process. If this is not the case, it may suggest that the process is not repeatable or not consistently implemented. For these results the manager should not be included in the universe of potential managers, whereas if the results track over time they may suggest style drift.

请问为什么不能选A?
1 个答案
已采纳答案

吴昊_品职助教 · 2020年09月12日

同学你好:

A选项的意思是不存在投资风格的变化。由于基金经理的实际投资风格和此前陈述的不符,所以是存在投资风格的变化,因此选项A不正确。