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爱游泳的鱼 · 2021年08月25日

是否违反独立客观性呢?

* 问题详情,请 查看题干

NO.PZ201604030300004104

问题如下:

4. After his initial meeting with Black, does Locke’s decision to allow NGM to continue managing the portfolio violate the CFA Institute Standards of Professional Conduct?

选项:

A.

No.

B.

Yes, because he allowed political factors to influence his decision.

C.

Yes, because he is obligated to immediately suspend NGM until he finishes his evaluation.

解释:

A is correct.

Until Locke’s investigation is complete, he has no obligation to suspend the manager or take any other action. He believes the manager can and does add value through superior returns and diversification, and therefore it may be reasonable to retain NGM if Locke can be satisfied that the manager can act within the constraints of the IPS and CFA Institute Standards. Until the analysis is complete, it would not be practical, and Locke would be violating his duty to act in his clients’ best interests by suspending the manager and leaving the assets unmanaged or to temporarily moving them to another manager for safe-keeping.

最后一句implication of political那句,来自政治的压力让他不能解雇这个基金经理,这样不违反独立客观性吗

1 个答案

王暄_品职助教 · 2021年08月25日

Locke之前并没有完成evaluation,case中提到 “he will allow NGM to continue to manage Fund assets until he finishes his evaluation”(意思是在评估结束之前,Locke会继续使用它),因为:考虑到NGM给他的pension fund带来的high return,diversification,以及political pressure


所以确实带来return这点很关键,所以综合考虑,并没有解雇。



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Yes, because he allowepoliticfactors to influenhis cision. Yes, because he is obligateto immeately suspenNGM until he finishes his evaluation. A is correct. Until Locke’s investigation is complete, he hno obligation to suspenthe manager or take any other action. He believes the manager canes a value through superior returns anversification, antherefore it mreasonable to retain NGM if Locke csatisfieththe manager cawithin the constraints of the IPS anCFA Institute Stanr. Until the analysis is complete, it woulnot practical, anLocke woulviolating his ty to ain his clients’ best interests suspenng the manager anleaving the assets unmanageor to temporarily moving them to another manager for safe-keeping.既然已经发现前面提到的有明显偏离ips要求、ipo不当修正等情况,为什么还要放任NGM继续投资呢,只要是return满足要求就可以吗?韩韩_品职助教 · 28月前同学你好,虽然之前讲了有一些小问题,但是NGM在return上,versification上都是可以满足公司的要求的,这就是很充分的理由了。老师您好,这是我看到的之前同学的提问和老师的回答。我的问题是在return、versification满足的情况下,IPS未被遵守算是小问题?IPS都不当回事了,颠覆整个知识体系了吧?是不是有另一个角度来看这道题?

2020-10-11 21:11 1 · 回答

    根据讲义211页,发现有potentiviolation,应该限制employees的activity,叫停业务等。继续留用应该是违反的吧。还是感觉应该选C,烦请能说服我,感谢。

2019-06-04 16:03 1 · 回答

    既然已经发现前面提到的有明显偏离ips要求、ipo不当修正等情况,为什么还要放任NGM继续投资呢,只要是return满足要求就可以吗?

2018-06-10 16:17 1 · 回答