cfa二级portfolio问题

同学你好，注意一下原版书的说法Each business day, the ETF manager publishes a list of required in-kind securities for each ETF. 每个工作日基金经理会公布一个清单，比如etf基金经理可能会要求70%的贵州茅台，因为他打算购买茅台，这不代表etf里面刚好是有70%的茅台持仓。请知悉。

嗨，爱思考的PZer你好：

同学你好，关于的问题，原版书有一个介绍

This in-kind swap happens off the exchange, in the primary market for the ETF, where APs transfer securities to (for creations) or receive securities from (for redemptions) the ETF issuer, in exchange for ETF shares. This is a prescribed, structured transaction with its own set of rules. Each business day, the ETF manager publishes a list of required in-kind securities for each ETF. For instance, an S&P 500 Index ETF will typically list the index securities in quantities that reflect the index weighting. The list of securities specific to each ETF and disclosed publicly each day is called the creation basket. This basket also serves as the portfolio for determining

通常情况下，每个交易日issuer会公布一个list，是和ETF组合里的股票清单一样的，但如果遇到后面讲的税务原因也会有不一样的情况。

你的这部分知识点可以参考原版书254-255页。

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