NO.PZ2019011501000007
问题如下：
A total portfolio investment of $20million will be transferred to the Growth composite of Delta Capital investment. However, this amount of assets will be invested gradually over a period of 10 months. In terms of the GIPS standards, the composite manager must include the new portfolio:
选项：
A. on a timely and consistent basis.
B. at the start of the next full performance measurement period.
C. when all assets are invested.
解释：
A is correct.
考点：3.A Composite construction-3.A.5
解析：条款3.A.5 Composites must include new portfolios on a timely and consistent basis after each portfolio comes under management. Composites必须及时包含最新的符合其要求的被管理的基金。
Handbook中补充：Firms are encouraged to establish a policy that includes new portfolios in composites as soon as possible, preferably at the start of the next full performance measurement period. 公司应当制定相关政策并且争取在下一个业绩衡量周期起初就将新的基金组合纳入进Composites中。注意这里的用词是as soon as possible，
c的意思不就是建仓完毕吗？