问一道题：NO.PZ201604030300004103 第3小题 [ CFA III ]

NO.PZ201604030300004103 问题如下 Jason Locke, CFhrecently been hirethe Chief Investment Officer of the Escarpment RegionGovernment Employees’ Pension Fun(the Fun. Currently, he is concting evaluations of all externmanagers employethe Funto ensure ththey are proving the highest possible returns for their mantes, while complying with all applicable laws anregulations.Locke is evaluating the activity of Niagara Growth Managers (NGM), a locmoney manager allocate10 percent of the Funs assets. He realizes thany rection in the allocation to this locmanager will met with consirable politicpressure. The investment polistatement (IPS) for NGM’s portion of the Funs assets states thNGM is to actively manage equity portfolio of locsmall-cap, high-tecompanies.Upon his review of NGM’s activity, Locke is concerneabout two items thhe woullike explaine a meeting with NGM’s portfolio manager, Emma Black, CFLocke asks her to comment on eaitem:Commoties PositionsLocke: \"Over the last year, severlarge positions in commoties have been taken the Funs portfolio. This is inconsistent with the IPS.\"Black: \"Commoties have significantly outperformehigh-teequities recently. I aecommoties to larger clients’ portfolios on a temporary basis. Clients were not informebecause the positions will solonmarket sentiment shifts. I have not managecommoties before, but I getting gooreturns.\"Locke: \"I uncomfortable with these investments in this portfolio.\"IPO Share AllocationLocke: \"The Funs portfolio receive50,000 shares of initipublic offering (IPO) on 1 April. On 15 May, 30,000 shares were removethe current market price.\"Black: \"There wa problem with NGM’s IPO allocation algorithm. Initially, you were over-allocateanwhen we scoverethe error, your account wauste\" Locke: \"Short-term interest shoulhave been creteto the Funfor use of its cash to cover the tra. In any case, this wIPO of a large internationhigh-tecompany. It wnot appropriate investment for the portfolio.\"After the meeting, Locke is not satisfiewith Black’s comments ancis thfurther action is require He also cis thhe will allow NGM to continue to manage Funassets until he finishes his evaluation. This cision is baseon the superior returns of the NGM-manageassets, the significant versification this portfolio as to the Fun analso the politicimplications of firing the locmoney manager.The next week, Locke calls Blaanoutlines severcontions thmust fulfillefor NGM to continue a manager for the Fun One of the contions outlinerelates to tra allocations.Tra AllocationLocke: \"Provi written tra allocation proceres consistent with the CFA Institute Stanr of ProfessionConct.\"Black: \"I will mail you a copy of our new proceres stating thtra allocations must reviewethe enof eamonth against clients’ IPS. It also says thinterest will creteto accounts thhave been incorrectly allocateshares anbitefrom those accounts thshoulhave receiveshares.\"With his evaluation complete, Locke must now consir whether to retain NGM one of the Funs asset managers.3. With regarto the IPO share allocation, are both NGM’s methoof tra correction on 15 ManLocke’s manfor a short-term interest cret, respectively, consistent with the CFA Institute Stanr of ProfessionConct? A.Yes. B.No, only the methoof tra correction is consistent. C.No, only the manfor a short-term interest cret is consistent. C is correct.Locke’s interest claim is legitimate sinthe Funs cash wemployeto purchase equities thwere later removefrom the account. Therefore, the Funis oweinterest for the perioin question. 首先是买错，其次又随意把30,000股份卖掉，如果这时候股票跌了怎么办？所以首先通知客户，然后以最好的时间把股票卖掉，给客户造成的任何亏损公司弥补。而不是直接在5/15号不管不顾的全部卖掉。这个做法既然不对，请问正确的做法是什么？

NO.PZ201604030300004103 问题如下 3. With regarto the IPO share allocation, are both NGM’s methoof tra correction on 15 ManLocke’s manfor a short-term interest cret, respectively, consistent with the CFA Institute Stanr of ProfessionConct? A.Yes. B.No, only the methoof tra correction is consistent. C.No, only the manfor a short-term interest cret is consistent. C is correct.Locke’s interest claim is legitimate sinthe Funs cash wemployeto purchase equities thwere later removefrom the account. Therefore, the Funis oweinterest for the perioin question. 老师，这两段话都没看明白啥意思，可以下吗?是说fun到了50，000股，多收了，但是自己就把多收的卖出了？【Locke: \"The Funs portfolio receive50,000 shares of initipublic offering (IPO) on 1 April. On 15 May, 30,000 shares were removethe current market price.\"Black: \"There wa problem with NGM’s IPO allocation algorithm. Initially, you were over-allocateanwhen we scoverethe error, your account wauste\"】这句话啥意思？【Locke: \"Short-term interest shoulhave been creteto the Funfor use of its cash to cover the tra. In any case, this wIPO of a large internationhigh-tecompany. It wnot appropriate investment for the portfolio.\"】

NO.PZ201604030300004103问题如下3. With regarto the IPO share allocation, are both NGM’s methoof tra correction on 15 ManLocke’s manfor a short-term interest cret, respectively, consistent with the CFA Institute Stanr of ProfessionConct?A.Yes.B.No, only the methoof tra correction is consistent.C.No, only the manfor a short-term interest cret is consistent.C is correct.Locke’s interest claim is legitimate sinthe Funs cash wemployeto purchase equities thwere later removefrom the account. Therefore, the Funis oweinterest for the perioin question.这道题目对应哪个知识点？

    这个利息到底是应该属于谁的？要赔偿谁。。。