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wyrw · 2024年09月15日

B选项什么意思

NO.PZ2023040301000080

问题如下:

Which of the following statements is least accurate with respect to fixed-income indices?

选项:

A.

Compared with equity indices, it is easier and less expensive to replicate fixed-income indices

B.

The indices are susceptible to turnover of the underlying securities

C.

Many of the underlying securities in the index tend to be illiquid

解释:

Compared with equity indices, the large number of fixed-income securities—combined with the lack of liquidity of some securities—has made it more costly and difficult for investors to replicate fixed-income indices and duplicate their performance

没看懂B选线的意思,麻烦帮忙解释一下

1 个答案

王园圆_品职助教 · 2024年09月15日

同学你好,B选项的意思是:指数容易受到标的证券的换手率的影响,susceptible就是敏感的意思

由于固定收益产品譬如债券是有固定到期日的,不像股票是没有到期日的,所以一旦到期就自动从债券指数中被剔除了,此时债券指数就不得不重新在市场上找到相似的同类未到期债券重新加入指数,否则债券指数就不完整了——就是因为这个特性,所以固收类指数确实会由于里面的证券的频繁到期而不能不重新构建,会相对股票类指数更敏感于这种到期情况