Leonard is looking at the style classification from Asgard as reported by Morningstar and Thomson Reuters Lipper. He is surprised to find that Asgard is classified as a blend fund by Morningstar and a value fund by Lipper. Which of the following statements is correct?
Although the Morningstar methodology classifies securities as either value, growth, or core, the Lipper methodology assumes a stock can have the characteristics of many styles. This approach can result in a different classification for the same portfolio.
The Lipper methodology can only lead to a value or growth classification. It does not offer a core/blend component.
The Morningstar methodology classifies securities as either value, growth, or core by looking at the difference between their respective growth and value scores. It is possible that the Asgard funds hold a balanced exposure to both value and growth and/or core stocks.
(Institute 441)
Institute, CFA. 2019 CFA Program Curriculum Level III Volume 4. CFA Institute, 5/2018. VitalBook file.
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此题看起来是教材里面提到了morningstar和lipper两个分类标准,因为题干里没有相关内容,请问这两个分类标准要求掌握吗,教材里是否有相关内容?我没有找到。要是没有的话,这道题似乎没法解答,比如选项B如果lipper确实是选项B描述的那样,那应该也是对的。而选项c说的是morningstar和asgard,似乎风马牛不相及,并不是课件讲解说的morningstar和lipper分类标准不一样的意思