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SophieZ · 2023年07月13日

这道题看不明白，能告知一下相关讲义内容吗？

  1. CFA III
  2. Equity

NO.PZ2023010903000014

问题如下：

For the large-cap US equity portion of Sapphire’s investment portfolio, Cullen believes that there are some existing passive indexed-based funds that track the S&P 500 Index that the foundation should consider. Cullen presents Exhibit 2 to Sapphire’s board.

Exhibit 2 S&P 500 Index Funds

as an indexing technique, the number of holdings in Manager B’s index least likely illustrates:

选项：

A.

reconstituting

B.

packeting

C.

buffering

解释：

Reconstitution involves deleting names that are no longer in the index and adding names that have been approved as new index members. Therefore the holdings of the fund should always be 500.

这道题看不明白，能告知一下相关讲义内容吗？

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1 个答案

笛子_品职助教 · 2023年07月14日

嗨，从没放弃的小努力你好：


这道题看不明白，能告知一下相关讲义内容吗？


Hello，亲爱的同学~

可以参考基础讲义41页的内容：


reconstituting：是指完全复制。此时portfolio的股票数量与benchmark完全一样。

packeting：是指当benchmark成分股变动的时候，portfolio把变动的股份切分成很多份去变动，一次调整一份。

buffer： 是指有一个缓冲地带，只有过了这个缓冲地带才调整进来。


这里有个规律：

reconstituting，portfolio股票数量等于benchmark

packeting：portfolio股票数量大于等于benchmark，不会小于benchmark。

buffering：portfolio股票数量，可以大于、等于、小于benchmark。


同学先看看基础讲义对应的视频内容哈。后面看完了还有其他问题，欢迎随时提问。

祝学习顺利~




----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

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