NO.PZ2019012201000056
问题如下:
Regulas Funds: Invests in a combination of global equity securities from 5–10 different countries. Portfolio weights are adjusted to take advantage of companies that appear to have the best near-term growth prospects.
Clickman asks Leeter how Regulas Funds determines its equity selections. Leeter says that Regulas uses monthly data from non-traditional, but measurable, sources to determine the influence of customer and government attitudes toward a firm and its products. Leeter also notes that Regulas compares its performance relative to an equity benchmark customized to its strategy and that the factors tend to be more volatile than traditional market factors. He also states that the fund does tend to suffer in performance when exchange rates are volatile.
Using Exhibit 1 and the equity selection process of Regulas Funds, the strategy will most likely benefit from:
选项:
A. a portfolio overlay
B. a new benchmark
C. using annual rebalancing
解释:
Regulas Funds will
benefit from a portfolio overlay of derivative securities to eliminate exchange
rate risk.
B is incorrect.
Regulas uses a custom benchmark that is already appropriate for its strategy.
C is incorrect.
Annual rebalancing is too infrequent given the volatile nature of the factors
used by Regulas.
老师好,问题问的是这个策略的最大收益来源,不应该是增长快的股票权重吗?策略里没有说要对冲汇率风险呀,而且如果是对冲,那也不能算是收益吧,只是避免损失。如果主动承担汇率风险,才有收益,但是策略里也没有写。