NO.PZ2019012201000030
问题如下:
How many of the following statements about approaches to portfolio construction are correct?
Statement 1: In principle, a systematic top-down manager would emphasize macro factors and factor timing and would have concentrated portfolios
Statement 2: Bottom-up managers first emphasize security-specific factors, whereas top-down managers first emphasize macro factors.
选项:
A.One
B.Two
C.None
解释:
A is correct.
考点:Approaches to portfolio construction
解析:第一个表述是错误的,它错在系统化策略旨在降低非系统性风险,因此通过这种策略构建出来的组合往往分散化非常好。
这道题a选项说的是top down systematic 方法风险敞口集中感觉对啊,因为被动投资的时候不是说了相比于传统的被动投资,factor passive concentrate exposure吗