这道题可以概括成由于exchange rate经常变所以fund会benefit from衍生品对冲，所以就是overlay吗？

NO.PZ2019012201000056 问题如下 RegulFun: Invests in a combination of globequity securities from 5–10 fferent countries. Portfolio weights are austeto take aantage of companies thappeto have the best near-term growth prospects.Clickmasks Leeter how RegulFun termines its equity selections. Leeter says thReguluses monthly ta from non-trational, but measurable, sources to termine the influenof customer angovernment attitus towara firm anits procts. Leeter also notes thRegulcompares its performanrelative to equity benchmark customizeto its strategy anththe factors tento more volatile thtrationmarket factors. He also states ththe funes tento suffer in performanwhen exchange rates are volatile.Using Exhibit 1 anthe equity selection process of RegulFun, the strategy will most likely benefit from: A.a portfolio overl B.a new benchmark C.using annurebalancing RegulFun willbenefit from a portfolio overlof rivative securities to eliminate exchangerate risk.B is incorrect.Reguluses a custom benchmark this alrea appropriate for its strategy.C is incorrect.Annurebalancing is too infrequent given the volatile nature of the factorsuseRegulas. PORTFOLIO OVERLAY知识点能再讲解下吗。包括哪些，都怎么描述的

NO.PZ2019012201000056 问题如下 RegulFun: Invests in a combination of globequity securities from 5–10 fferent countries. Portfolio weights are austeto take aantage of companies thappeto have the best near-term growth prospects.Clickmasks Leeter how RegulFun termines its equity selections. Leeter says thReguluses monthly ta from non-trational, but measurable, sources to termine the influenof customer angovernment attitus towara firm anits procts. Leeter also notes thRegulcompares its performanrelative to equity benchmark customizeto its strategy anththe factors tento more volatile thtrationmarket factors. He also states ththe funes tento suffer in performanwhen exchange rates are volatile.Using Exhibit 1 anthe equity selection process of RegulFun, the strategy will most likely benefit from: A.a portfolio overl B.a new benchmark C.using annurebalancing RegulFun willbenefit from a portfolio overlof rivative securities to eliminate exchangerate risk.B is incorrect.Reguluses a custom benchmark this alrea appropriate for its strategy.C is incorrect.Annurebalancing is too infrequent given the volatile nature of the factorsuseRegulas. 老师好，completion overlay, currenoverlay和rebalancing overlay是不是统称为portfolio overlay？这道题的答案如果更精确一点，就是选择currenoverlay，我的理解对吗？

NO.PZ2019012201000056 问题如下 RegulFun: Invests in a combination of globequity securities from 5–10 fferent countries. Portfolio weights are austeto take aantage of companies thappeto have the best near-term growth prospects.Clickmasks Leeter how RegulFun termines its equity selections. Leeter says thReguluses monthly ta from non-trational, but measurable, sources to termine the influenof customer angovernment attitus towara firm anits procts. Leeter also notes thRegulcompares its performanrelative to equity benchmark customizeto its strategy anththe factors tento more volatile thtrationmarket factors. He also states ththe funes tento suffer in performanwhen exchange rates are volatile.Using Exhibit 1 anthe equity selection process of RegulFun, the strategy will most likely benefit from: A.a portfolio overl B.a new benchmark C.using annurebalancing RegulFun willbenefit from a portfolio overlof rivative securities to eliminate exchangerate risk.B is incorrect.Reguluses a custom benchmark this alrea appropriate for its strategy.C is incorrect.Annurebalancing is too infrequent given the volatile nature of the factorsuseRegulas. 以上

NO.PZ2019012201000056 问题如下 RegulFun: Invests in a combination of globequity securities from 5–10 fferent countries. Portfolio weights are austeto take aantage of companies thappeto have the best near-term growth prospects.Clickmasks Leeter how RegulFun termines its equity selections. Leeter says thReguluses monthly ta from non-trational, but measurable, sources to termine the influenof customer angovernment attitus towara firm anits procts. Leeter also notes thRegulcompares its performanrelative to equity benchmark customizeto its strategy anththe factors tento more volatile thtrationmarket factors. He also states ththe funes tento suffer in performanwhen exchange rates are volatile.Using Exhibit 1 anthe equity selection process of RegulFun, the strategy will most likely benefit from: A.a portfolio overl B.a new benchmark C.using annurebalancing RegulFun willbenefit from a portfolio overlof rivative securities to eliminate exchangerate risk.B is incorrect.Reguluses a custom benchmark this alrea appropriate for its strategy.C is incorrect.Annurebalancing is too infrequent given the volatile nature of the factorsuseRegulas. 请

NO.PZ2019012201000056问题如下RegulFun: Invests in a combination of globequity securities from 5–10 fferent countries. Portfolio weights are austeto take aantage of companies thappeto have the best near-term growth prospects.Clickmasks Leeter how RegulFun termines its equity selections. Leeter says thReguluses monthly ta from non-trational, but measurable, sources to termine the influenof customer angovernment attitus towara firm anits procts. Leeter also notes thRegulcompares its performanrelative to equity benchmark customizeto its strategy anththe factors tento more volatile thtrationmarket factors. He also states ththe funes tento suffer in performanwhen exchange rates are volatile.Using Exhibit 1 anthe equity selection process of RegulFun, the strategy will most likely benefit from:A.a portfolio overlB.a new benchmark C.using annurebalancing RegulFun willbenefit from a portfolio overlof rivative securities to eliminate exchangerate risk.B is incorrect.Reguluses a custom benchmark this alrea appropriate for its strategy.C is incorrect.Annurebalancing is too infrequent given the volatile nature of the factorsuseRegulas. 这道题在问什么，没理解这道题的意义