security specific和firm specific怎么区分？

NO.PZ2023010903000059 问题如下 Shhparticulinterest in MFC’s populSoFun(Soar), whirelies on returns from factor exposures. The scription of the funstates thit emphasizes security-specific factors, maintains low security concentration to keep iosyncratic risk wn, anembraces quality anvalue styles. Sooccasionally consirs the economic angeopoliticenvironment, especially ring unusueconomic con­tions.From the scription of the SoFun the most appropriate classification of its portfolio construction process is: A.top-wn systemati B.bottom-up systemati C.bottom-scretionary The SoFunhcharacteristimost consistent with those of a bottom-up systematic manager. Emphasizing security-specific factors is a bottom-metho Targeting low iosyncratic risk along with low concentrations incates a systematic approach, not a scretionary approach. Although the SoFunes sometimes consir macro ta anevents, this is not its primary top-wn iver of portfolio construction.A is incorrect. Although Soes sometimes consir macro ta anevents, this is not its primary top-iver of portfolio construction.C is incorrect. Targeting low iosyncratic risk along with low concentrations incates a systematic approach, not a scretionary approach. Sooccasionally consirs the economic angeopoliticenvironment, especially ring unusueconomic con­tions.这句话说的不算是top wn的feature吗？要怎么提到macro的部分才能算top wn？

NO.PZ2023010903000059 问题如下 Shhparticulinterest in MFC’s populSoFun(Soar), whirelies on returns from factor exposures. The scription of the funstates thit emphasizes security-specific factors, maintains low security concentration to keep iosyncratic risk wn, anembraces quality anvalue styles. Sooccasionally consirs the economic angeopoliticenvironment, especially ring unusueconomic con­tions.From the scription of the SoFun the most appropriate classification of its portfolio construction process is: A.top-wn systemati B.bottom-up systemati C.bottom-scretionary The SoFunhcharacteristimost consistent with those of a bottom-up systematic manager. Emphasizing security-specific factors is a bottom-metho Targeting low iosyncratic risk along with low concentrations incates a systematic approach, not a scretionary approach. Although the SoFunes sometimes consir macro ta anevents, this is not its primary top-wn iver of portfolio construction.A is incorrect. Although Soes sometimes consir macro ta anevents, this is not its primary top-iver of portfolio construction.C is incorrect. Targeting low iosyncratic risk along with low concentrations incates a systematic approach, not a scretionary approach. 感觉从来没看到过C这个方法呢

NO.PZ2023010903000059问题如下 Shhparticulinterest in MFC’s populSoFun(Soar), whirelies on returns from factor exposures. The scription of the funstates thit emphasizes security-specific factors, maintains low security concentration to keep iosyncratic risk wn, anembraces quality anvalue styles. Sooccasionally consirs the economic angeopoliticenvironment, especially ring unusueconomic con­tions.From the scription of the SoFun the most appropriate classification of its portfolio construction process is: A.top-wn systematicB.bottom-up systematicC.bottom-scretionary The SoFunhcharacteristimost consistent with those of a bottom-up systematic manager. Emphasizing security-specific factors is a bottom-metho Targeting low iosyncratic risk along with low concentrations incates a systematic approach, not a scretionary approach. Although the SoFunes sometimes consir macro ta anevents, this is not its primary top-wn iver of portfolio construction.A is incorrect. Although Soes sometimes consir macro ta anevents, this is not its primary top-iver of portfolio construction.C is incorrect. Targeting low iosyncratic risk along with low concentrations incates a systematic approach, not a scretionary approach. scretionary不是可集中可分散化吗，为什么这道题是systematic的？