NO.PZ202109080300000105
问题如下：
Based on Exhibit 1, the mutual fund most likely to be the most tax efficient going forward is:
选项：
A.Fund A.
B.Fund B.
C.Fund C.
解释：
A is correct. Fund A has a lower percent capital gain exposure (PCGE) than does Fund B or Fund C. PCGE is an estimate of the percentage of a fund’s assets that represent gains and measures how much the fund’s assets have appreciated. It can be an indicator of possible future capital gain distributions. PCGE can be used to gauge the amount of tax liability embedded in a mutual fund. The negative PCGE of Fund A implies that Fund A is more likely to be the most tax-efficient fund going forward, because it can use the embedded losses in its portfolio to offset future realized gains.
PCGE = Net gains (losses)/Total net assets.
请问PCGE的公式在讲义哪里？
