C选项

问题如下：

During the next few months, Dewey rebalances the Purity Fund to reflect his fundamental active investment process. Based upon Dewey’s chosen investment process for the management of thePurity Fund, rebalancing of the fund will most likely occur:

选项：

at regular intervals

in response to changes in company-specifc information.

in response to updated output from optimization models

解释：

B is correct. Managers using an active fundamental investment process, likeDewey’s, usually monitor the portfolio’s holdings continuously and may rebalance at any time. In contrast, portfolios using a quantitative approach are usually rebalanced at regular intervals, such as monthly or quarterly, or in response to updated output from optimization models. A is incorrect because portfolios using a quantitative (not fundamental) active approach are usually rebalanced at regular intervals, such as monthly or quarterly. C is incorrect because construction of a quantitative portfolio (not a fundamental portfolio) typically involves using a portfolio optimizer, which controls for risk at the portfolio level in arriving at individual stock weights and leads to rebalancing decisions.