问题如下:
Gerber is looking at the high-yield portfolio and investigates secondary market characteristics that would increase the portfolio’s liquidity.
What secondary market characteristics would most likely have Gerber’s desired effect on portfolio liquidity?
选项:
A.Decreased trading volume
Less spread sensitivity to fund outflows
A decrease in broker/dealer holdings
解释:
B is correct.
Spread sensitivity is the effect on credit spreads of large withdrawals by investors from credit funds. Spread sensitivity can be measured as the spread widening (in basis points) divided by the percentage outflow from high-yield funds (funds withdrawn divided by assets under management). A decrease in the spread sensitivity to fund outflows would most likely indicate an increase in liquidity.
A decrease in the spread sensitivity to fund outflows would most likely indicate an increase in liquidity.???
价差对基金的withdraw敏感性越低,流动性越大,之前在基础班听的时候就有点不理解,能帮忙再解释一下吗?基金withdraw和流动性能挂钩吗?