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cindydandan · 2020年03月14日

问一道题:NO.PZ2016031101000015

问题如下:

Southwest Capital Advisors LLC manages a fixed-income composite in accordance with an enhanced indexing strategy which makes strategic use of high-yield and emerging market bonds in addition to investment grade bonds issued in developed markets. The Merrimack Company, a family office, has a portfolio that is included in the firm’s fixed-income enhanced indexing composite. Merrimack informs Southwest in writing that, due to changes in its investment policy, the portfolio can no longer hold high-yield or emerging market bonds. In accordance with the GIPS standards, Southwest decides to switch the Merrimack portfolio to another composite. The historical performance of the portfolio must be:

选项:

A.

reflected in both composites.

B.

switched to the new composite.

C.

retained in the enhanced indexing composite.

解释:

C is correct.

Provision I.3.A.7 states, "Portfolios must not be switched from one composite to another unless documented changes to a portfolio’s investment mandate, objective, or strategy or the redefinition of the composite makes it appropriate. The historical performance of the portfolio must remain with the original composite." (See Section 3.9 of the reading.)

请问这题是因为investment policy有改变,所以可以转换composite,但是历史表现保留在原composite里,所以选C对吗?

1 个答案

Olive_品职助教 · 2020年03月14日

嗨,爱思考的PZer你好:


是的同学,你的理解是正确的。


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