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今天也要来一杯 · 2020年05月03日

问一道题:NO.PZ2016031101000008

问题如下:

Convenable Capital Management manages an equity portfolio for the Flender Company. Cash held in the portfolio is invested by the Flender’s existing custodial bank. Must Convenable include cash and cash equivalents in the portfolio return calculations?

选项:

A.

Yes.

B.

No; the cash is not invested by Convenable.

C.

No; Convenable does not have discretion over the selection of the custodian.

解释:

A is correct.

Provision 1.2.A.3 states, "Returns from cash and cash equivalents held in portfolios must be included in all return calculations." Lawton writes, "Cash and cash equivalents must be included in the total return calculation even if the cash is not actually invested by the same person or group." Whether the custodian is selected by the client or the manager is pertinent to the calculation of total firm assets but irrelevant to this question. (See Section 3.5 of the reading.)

不明白答案中“Whether the custodian is selected by the client or the manager is pertinent to the calculation of total firm assets but irrelevant to this question.”的原因是什么。

2 个答案
已采纳答案

Olive_品职助教 · 2020年05月06日

嗨,从没放弃的小努力你好:


2.A.3规定,不管cash and cash equivalents必须要计入portfolio return的计算中。这个跟cash and cash equivalents在哪托管没关系。

不管是谁选择的托管人,只要在这个portfolio里边,就得计入return的计算。所以托管人的选择跟这道题没关系。我们要看的就是2.A.3这条规定。


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努力的时光都是限量版,加油!


品职LPC · 2021年09月19日

答案解析中,托管人是客户还是投资经理选的,与公司资产的计算有关,请问这怎么理解?

伯恩_品职助教 · 2021年09月20日

嗨,爱思考的PZer你好:


答案解析中,托管人是客户还是投资经理选的,与公司资产的计算有关,请问这怎么理解?———如果是客户选择的就不计入公司资产,如果是投资经理选择的就要计入公司资产

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努力的时光都是限量版,加油!