在firm asset的定义范围中,sub-advisor如果是client-directed,那就不能包括在firm asset,如果是firm has authority to select,是属于firm asset的;
在composite的定义范围中,只提到了discretionary和non-discretionary,所以想问,属于firm has authority to select的这部分,是否需要算在composite中?
(我理解应该不属于discretionary,所以应该是firm asset,但不能含在composite中,对吗?)