问题如下：
A $100 million portfolio is allocated 70% to domestic stocks and 30% to international stocks. The manager wants to decrease the exposure to domestic stocks and invest the fund to international stocks by equity swap. The best choice to structure the swap is?
选项：
A. pay domestic stocks’ return and receive international stocks’
return
B. pay international stocks’ return and receive domestic stocks’
return
C. pay domestic stocks’ return and receive bond’s return.
解释：
A is correct.
考点：equity swap
解析：
现在投资者希望减少domestic stock头寸，增加international stock头寸，所以应该支付domestic stock收益，换取（收到）international stock的收益。
老师： 您好！我对于swap有些不懂。我知道为了降低domestic stock的exposure必须换出domestic stock，换入international stock；然而到了return，不是应该反向吗？即支付dealer方international stock的return，收到domestic stock的return吗？ 谢谢。