NO.PZ201809170400000507
问题如下:
What was the effect of Fund 3’s two trades on its active share? Fund 3’s active share:
选项:
A.decreased.
B.remained unchanged.
C.increased.
解释:
B is correct. Active share changes only if the total of the absolute values of the portfolio’s active weights changes. For the two trades in Fund 3, both the initial position and the new position involved two stocks such that one was 1pp underweighted and the other was 1pp overweighted. Although the active weights of particular securities did change between the initial position and the new position, the total absolute active weights did not change.
Therefore, the portfolio’s active share did not change.
这道题是在问两次偏离带来的active shares的变化么?我做的时候理解是偏离和不偏离的相比,肯定是change