问题如下:
Compton explains that, in order to evaluate the asset allocation process, fixed-income portfolios should have an appropriate benchmark. Mowery asks for benchmark advice regarding DFC’s portfolio of short-term and intermediate-term bonds, all denominated in US dollars. Compton presents three possible benchmarks in Exhibit 2.
Based on DFC’s bond holdings and Exhibit 2, Compton should recommend:
选项:
A.Benchmark 1.
Benchmark 2.
Benchmark 3.
解释:
B is correct.
DFC has two types of assets, short term and intermediate term. For the short-term assets, a benchmark with a short duration is appropriate. For the intermediate-term assets, a benchmark with a longer duration is appropriate. In this situation, DFC may wish to combine several well-defined sub-benchmark categories into an overall blended benchmark (Benchmark 2). The Bloomberg Barclays Short-Term Treasury Index is an appropriate benchmark for the short-term assets, and SD&R uses a 50% weight for this component. The longer-duration Bloomberg Barclays US Corporate Bond Index is an appropriate benchmark for the intermediate-term assets, and SD&R uses a 50% weight for this component. As a result, Compton should recommend proposed Benchmark 2.
A为什么不可以?