NO.PZ2023010903000018
问题如下：
Laubach states that that the board is interested in following a passive approach for some or all of the equity allocation. In addition, the board is open to approaches that could generate returns in excess of the benchmark for part of the equity allocation. McMahon suggests that the board consider following a passive factor-based momentum strategy for the allocation to international stocks.
The international strategy suggested by McMahon is most likely characterized as:
选项：
A.
risk based
B.
return oriented
C.
diversification oriented
解释：
McMahon suggests that the foundation follow a passive factor-based momentum strategy, which is generally defined by the amount of a stock’s excess price return relative to the market during a specified period. Factor-based momentum strategies are classified as return oriented.
factor- based本身是active strategy，为啥题目说passive factor-based momentum strategy，怎么理解这里说的passive
这个策略具体是怎样执行呀
