关于packeting调整

NO.PZ2023010903000014 问题如下 For the large-cUS equity portion of Sapphire’s investment portfolio, Cullen believes ththere are some existing passive inxebasefun thtrathe S P 500 Inx ththe fountion shoulconsir. Cullen presents Exhibit 2 to Sapphire’s boarExhibit 2 S P 500 Inx Funinxing technique, the number of holngs in Manager B’s inx least likely illustrates: A.reconstituting B.packeting C.buffering Reconstitution involves leting names thare no longer in the inx anaing names thhave been approvenew inx members. Therefore the holngs of the funshoulalways 500. portfolio跟踪benchmark的3种办法reconstituting、packeting、buffering，具体区别是什么？

NO.PZ2023010903000014 问题如下 For the large-cUS equity portion of Sapphire’s investment portfolio, Cullen believes ththere are some existing passive inxebasefun thtrathe S P 500 Inx ththe fountion shoulconsir. Cullen presents Exhibit 2 to Sapphire’s boarExhibit 2 S P 500 Inx Funinxing technique, the number of holngs in Manager B’s inx least likely illustrates: A.reconstituting B.packeting C.buffering Reconstitution involves leting names thare no longer in the inx anaing names thhave been approvenew inx members. Therefore the holngs of the funshoulalways 500. 请教一下老师，reconstitution的知识点在哪个位置~

NO.PZ2023010903000014 问题如下 For the large-cUS equity portion of Sapphire’s investment portfolio, Cullen believes ththere are some existing passive inxebasefun thtrathe S P 500 Inx ththe fountion shoulconsir. Cullen presents Exhibit 2 to Sapphire’s boarExhibit 2 S P 500 Inx Funinxing technique, the number of holngs in Manager B’s inx least likely illustrates: A.reconstituting B.packeting C.buffering Reconstitution involves leting names thare no longer in the inx anaing names thhave been approvenew inx members. Therefore the holngs of the funshoulalways 500. 请问为什么“packetingportfolio股票数量大于等于benchmark，不会小于benchmark。bufferingportfolio股票数量，可以大于、等于、小于benchmark”？

NO.PZ2023010903000014问题如下 For the large-cUS equity portion of Sapphire’s investment portfolio, Cullen believes ththere are some existing passive inxebasefun thtrathe S P 500 Inx ththe fountion shoulconsir. Cullen presents Exhibit 2 to Sapphire’s boarExhibit 2 S P 500 Inx Funinxing technique, the number of holngs in Manager B’s inx least likely illustrates: A.reconstitutingB.packetingC.buffering Reconstitution involves leting names thare no longer in the inx anaing names thhave been approvenew inx members. Therefore the holngs of the funshoulalways 500. 为什么buffering的股票数可以少于benchmark?大于的情况好理解，比如股票跌出，benchmark的最低要求，但要留在inx里观察一段时间，看看跌出是否偶然现象再踢出，这个就股票数大于benchmark股票数500的情况，但小于是怎样的场景？，对buffering

NO.PZ2023010903000014 问题如下 For the large-cUS equity portion of Sapphire’s investment portfolio, Cullen believes ththere are some existing passive inxebasefun thtrathe S P 500 Inx ththe fountion shoulconsir. Cullen presents Exhibit 2 to Sapphire’s boarExhibit 2 S P 500 Inx Funinxing technique, the number of holngs in Manager B’s inx least likely illustrates: A.reconstituting B.packeting C.buffering Reconstitution involves leting names thare no longer in the inx anaing names thhave been approvenew inx members. Therefore the holngs of the funshoulalways 500. 就是想问问rebalance与Reconstitution 的区别，谢谢