问题如下：
6. Based on Exhibit 2, the client most likely to benefit from the introduction of an additional overlay manager is:
选项：
A.Adele Kastner.
B.Braunt Pensionskasse.
C.Franz Trading GmbH.
解释：
C is correct.
The primary performance objective of Franz Trading GmbH is to add alpha to the portfolio, and thus has given the manager discretion in trading currencies. This is essentially a -foreign exchange as an asset class- approach. BrauntPensionskasse and Kastner have more conservative currency strategies, and thus are less likely to benefit from the different strategies that a new overlay manager might employ.
A is incorrect because Franz Trading GmbH is more likely to benefit from the introduction of an additional overlay manager. Kastner is more likely to have a fully passive currency overlay program.
B is incorrect because Franz Trading GmbH is more likely to benefit from the introduction of an additional overlay manager. Braunt is more likely to have a currency overlay program where the manager takes a directional view on future currency movements.
老师 怎么看出来The primary performance objective of Franz Trading GmbH is to add alpha to the portfolio，谢谢
