讲义

这是针对siginificant CF的两种方法，一种是把就是把有大笔CF的portfolio移出去，等到完全建好仓再把portfolio加回来。另外一种就是建立temporary account. 把contribution放在里面建仓，等建好之后再加入到相应的组合当中。可以阅读一下GIPS对temporary account操作的方法。

As an alternative to a significant cash flow policy, a firm may consider the use of a temporary new account. This allows a firm to create a new portfolio into which a client’s contributions are directed. Within this new portfolio, the firm will purchase securities. Once the new funds are invested, the securities are transferred in-kind
to the existing portfolio contained within a composite. For a withdrawal, the securities are transferred in-kind to the temporary new account and then sold from the temporary new account.