NO.PZ202212270100001903
问题如下：
Based on Exhibit 2, the underperformance at the overall fund level is predominantly the result of poor security selection decisions in:
选项：
A.South America.
greater Europe.
developed Asia and Australasia.
解释：
Correct Answer: A
The total –441 bps
of underperformance from security selection and interaction at the overall fund
level is predominantly the result of poor South American security selection
decisions (–311 bps = 3.11%).
Allocation = (wi –
Wi)(Bi – B)
North America =
(10.84% – 7.67%)(16.47% – 22.67%) = –0.20%
Greater Europe =
(38.92% – 42.35%)(25.43% – 22.67%) = –0.09%
Developed Asia and
Australasia = (29.86% – 31.16%)(12.85% – 22.67%) = 0.13%
South America =
(20.38% – 18.82%)(35.26% – 22.67%) = 0.20%
Selection +
Interaction = Wi(Ri – Bi) + (wi – Wi)(Ri – Bi)
North America =
7.67%(16.50% – 16.47%) + (10.84% – 7.67%)(16.50% – 16.47%) = 0.00%
Greater Europe =
42.35%(23.16% – 25.43%) + (38.92% – 42.35%)(23.16% – 25.43%) = –0.88%
Developed Asia and
Australasia = 31.16%(11.33% – 12.85%) + (29.86% – 31.16%)(11.33% –12.85%) =
–0.45%
South America = 18.82%(20.00% – 35.26%) + (20.38% – 18.82%)(20.00% – 35.26%) = –3.11%
请问什么情况下要加interaction，什么情况下不加
