问题如下:
A manager has a mandate to be fully invested with a benchmark that is a blend of large-cap stocks and investment-grade bonds. Which of the following is not an indication that style drift has occurred? The manager:
选项:
A.initiates an allocation to small-cap stocks.
decreases investments in investment-grade corporate bonds.
increases allocation to cash in anticipation of a market decline.
解释:
B is correct.
In the normal course of business, the manager conforms to its style by reducing exposure to some class of investment grade bonds. Increasing allocation to cash and small-cap stocks is in violation of the mandate to be fully invested with equity exposure to large-cap stocks.
老师请问C为什么错了,理解在组合中增加(cash)即使这个benchmark是large cap和investment grade bond为特点,不影响style drift吧?