NO.PZ202207040100000301
问题如下：
Based on the descriptions in Exhibit 1, which fund is least likely to use a combination of a top-down and a bottom-up strategy?选项：
A.Fund A B.Fund B C.Fund C解释：
SolutionB is correct. Fund B uses only a bottom-up approach. Searching news sources is used only to identify target companies that are then analyzed by the firm’s analysts.
A is incorrect. Fund A uses a combination of the bottom-up and top-down approaches. The selection of stocks based on company analysis is a bottom-up approach, whereas the use of overlays to control risk is a top-down approach.
C is incorrect. Fund C uses a combination of the top-down and bottom-up approaches. The fund invests globally on the basis of country and sector parameters set by the investment strategist, which is a top-down approach. The subsequent selection of stocks by the portfolio manager based on judgement and experience is a bottom-up approach.
题目来源中的handbook是指什么？
