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Yuyu · 2023年02月09日

B的IPS指的是?

* 问题详情,请 查看题干

NO.PZ202207040100001005

问题如下:

The most cost efficient strategy to deal with Dashe’s concerns following the equity market correction is a(n):

选项:

A.rebalancing to policy weights by selling bonds and purchasing equities. B.rebalancing by replacing the highest-tracking-error manager with low-cost index exchange-traded funds (ETFs). C.overlay using equity index futures.

解释:

Solution

C is correct. The most cost efficient rebalancing strategy is to implement an overlay using equity index futures. This approach can get the equity exposure up to at least the guideline range without impacting the active managers. Equity index futures will very likely have less tracking error than the active managers.

A is incorrect. Buying equities and selling bonds will incur trading costs and disrupt the present active managers’ execution. This is not the most cost-effective solution compared with a derivatives overlay.

B is incorrect. The IPS does not allow for index ETFs; it allows for only active managers and derivatives.

如题,没有看到具体限制呢~

1 个答案

笛子_品职助教 · 2023年02月10日

嗨,努力学习的PZer你好:


如题,没有看到具体限制呢~

Hello,亲爱的同学!

这道题的客户是想做主动投资的,基金经理自己选股买股票。所以ETF这样被动投资的工具就不太合适了。

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