NO.PZ2025022502000099
问题如下：
Which of the following would most likely be the initial step when drafting a client's investment mandate?选项：
A.Setting a strategic asset allocation B.Clarifying the client's ESG investment beliefs C.Defining how ESG performance will be measured解释：
B is correct because the first step in the effective design of a mandate is that clients should be clear about their needs and set them out in a clear statement of ESG investment beliefs.请问题中起草一个mandate，是指整个过程的第一步，还是step3中具体涉及到asset manager的步骤？
