哪有提到benchmark

问题如下：

An analyst notes that the fixed-income portfolio manager has strong views about the effects of macroeconomic factors on credit markets and follows a top-down investment process. According to this, the most appropriate risk attribution approach for the fixed-income manager is to:

选项：

A.

decompose historical returns into a top-down factor framework.

B.

evaluate the marginal contribution to total risk for each position.

C.

attribute tracking risk to relative allocation and selection decisions.

解释：

Correct Answer: C

The portfolio is managed against a benchmark, which indicates a relative-risk type of risk
attribution analysis. For a top-down investment approach, the analysis should attribute tracking
risk to allocation and selection decisions relative to the benchmark.