NO.PZ2019012201000032
问题如下:
TMT holds a highly diversified portfolio that has balanced exposures to rewarded risk factors, high active share, and a relatively low target active risk. TMT’s manager most likely to be a:
选项:
A.pure indexer.
B.concentrated stock picker.
C.multi-factor investor.
解释:
C is correct.
考点:Active Share and Active Risk
解析: multi-factor investor追求的是跨因素、跨行业的多元化投资,通常拥有较高的主动份额,但主动风险相对较低,通常在3%的范围内。多因素产品投资证券的集中度较低,以实现对风险因素的分散化,并将特殊风险降至最低。因此,TMT符合多因素策略的特征。
我有点困或, active share高表示我是主动选股跟benchmark不同, 那我不应该是concentrated stock picker吗?