maggie_品职助教 · 2019年06月14日
1、这是一个非常偏的知识点，原版书也就一句带过了，所以稍微看下即可：A portfolio overlay is an array of derivative positions managed separately from the securities portfolio to achieve overall portfolio characteristics that are desired by the portfolio manager.
2、overlay我记得是在AA或衍生中涉及的，就是请有经验的人单独来做这部分资产的投资。这道题说 He also states that the fund does tend to suffer in performance when exchange rates are volatile. 基金可能面临外汇波动的损失，因此能够使得基金获益的策略就是使用衍生产品来对冲这部分外汇波动产生的风险。
