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落了一地 · 2021年10月11日

关于是否需要根据收益率计算

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NO.PZ201803130100000601

问题如下:

Select, for each of Armstrong’s three goals, which sub-portfolio module from Exhibit 1 Abbott should choose in constructing a portfolio. Justify each selection.

选项:

解释:

■ Module C should be chosen for Goal 1, Module B should be chosen for Goal 2, and Module D should be chosen for Goal 3.
■ The module that should be selected for each goal is the one that o
ers the highest return given the time horizon and required probability of success. The module that should be selected for each goal is the one that oers the highest return given the time horizon and required probability of success. For Goal 1, which has a time horizon of five years and a required probability of success of 85%, Module C should be chosen because its 4.4% expected return is higher than the expected returns of all the other modules. Similarly, for Goal 2, which has a time horizon of 10 years and a required probability of success of 99%, Module B should be chosen because its 2.2% expected return is higher than the expected returns of all the other modules. Finally, for Goal 3, which has a time horizon of 25 years and a required probability of success of 75%, Module D should be chosen because its 7.5% expected return is higher than the expected returns of all the other modules.

以后这种根据个人不同的goal选portfolio的,是不是只要选对应年份和概率下收益率最大的那个就可以了?不会出现哪怕选了收益率最大的那个portfolio也无法满足目标的情况么?


比如这个题目如果说25年后要如何如何,比如asset要达到多少,不需要实际计算一下么?

1 个答案

pzqa015 · 2021年10月14日

嗨,爱思考的PZer你好:


以后这种根据个人不同的goal选portfolio的,是不是只要选对应年份和概率下收益率最大的那个就可以了?

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是的,选择收益最大的module。


不会出现哪怕选了收益率最大的那个portfolio也无法满足目标的情况么?

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这种可能是有的,但是我们考试不会这样考,这个考点考察的是根据IPS找出对应收益最大的module,并计算期初需要准备的资金。


比如这个题目如果说25年后要如何如何,比如asset要达到多少,不需要实际计算一下么?

----------------------------------

这个考点不会让计算25年后的情况,一般就是选出合适的module,然后计算期初需要准备的资金,把所有目标期初需要准备的资金加总,与手头现有的资产市值进行比较,如果手头资产市值小于未来目标所需资金现值,则要么增加手头资产市值,要么提高风险容忍度;如果手头现有的资产市值大于目标所需资金,剩余资金也可以继续从给定module中选择。总之一句话,只会考察期初的情况,不会考察期末的情况。

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