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北欧神父 · 2024年06月07日

关于完整计量期

NO.PZ2022010501000010

问题如下:

A charitable foundation transfers securities in kind to Taurus Asset Management Ltd. to fund a new bank loan portfolio. Taurus estimates that after liquidating the transferred securities, it will take five months to invest the foundation’s assets in bank loans. Which statement best describes a requirement of the GIPS standards? Taurus must include the foundation’s portfolio in the appropriate composite:

选项:

A.

on a timely and consistent basis.

B.

when the assets are substantially invested.

C.

as of the beginning of the next full measurement period.

解释:

A is correct.

The GIPS standards state, “Composites must include new portfolios on a timely and consistent basis after each portfolio comes under management.” In this case, it is expected to take an extended period to invest the new client’s assets in accordance with the composite strategy. Assuming Taurus complies with the GIPS standards, its documented policy would provide for the inclusion of new bank loan portfolios in the composite on a timely basis. For example, Taurus’s policy may require new portfolios to be included in the composite as of the first full measurement period that the assets are fully invested. Taurus must apply its policy consistently.

GIPS 标准规定,“在管理每个组合后,Composites 必须及时且一致地包括新组合。”在这种情况下,根据composite策略,预计需要较长时间来投资新客户的资产。假设 Taurus 符合 GIPS 标准,其书面政策将规定及时将新的银行贷款组合纳入Composites 。例如,Taurus 的政策可能要求从资产被完全投资的第一个完整计量期开始,将新的投资组合包括在Composite中。

如果3月10日被完全投资,只有4月1日才能被放入到composite中吗,还是要经过4月整月,5月1日才能被放入?

另外请老师具体解释下完整计量期是怎么计算的

2 个答案

伯恩_品职助教 · 2024年08月13日

嗨,从没放弃的小努力你好:


题目中提到要经过比较久5个月才能完成fully invest,比如3月15开始投,下一个完整的measurement period是从4月1开始算(即只要开始投了就算),还是要等全部fully invest了(就业时8月15之后的第一个完整period,9月1)开始算?——9月。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

伯恩_品职助教 · 2024年06月07日

嗨,从没放弃的小努力你好:


如果3月10日被完全投资,只有4月1日才能被放入到composite中吗,还是要经过4月整月,5月1日才能被放入?——从4月1日开始放入。如果是以月度为1个周期,那么月中旬投资好,为了完整计算,那么就要在下个月初开始计算

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

Mahoosive · 2024年08月13日

题目中提到要经过比较久5个月才能完成fully invest,比如3月15开始投,下一个完整的measurement period是从4月1开始算(即只要开始投了就算),还是要等全部fully invest了(就业时8月15之后的第一个完整period,9月1)开始算?

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