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Brownie · 2022年03月20日

老师能否解释一下这道题

NO.PZ2022010501000010

问题如下:

A charitable foundation transfers securities in kind to Taurus Asset Management Ltd. to fund a new bank loan portfolio. Taurus estimates that after liquidating the transferred securities, it will take five months to invest the foundation’s assets in bank loans. Which statement best describes a requirement of the GIPS standards? Taurus must include the foundation’s portfolio in the appropriate composite:

选项:

A.

on a timely and consistent basis.

B.

when the assets are substantially invested.

C.

as of the beginning of the next full measurement period.

解释:

A is correct.

The GIPS standards state, “Composites must include new portfolios on a timely and consistent basis after each portfolio comes under management.” In this case, it is expected to take an extended period to invest the new client’s assets in accordance with the composite strategy. Assuming Taurus complies with the GIPS standards, its documented policy would provide for the inclusion of new bank loan portfolios in the composite on a timely basis. For example, Taurus’s policy may require new portfolios to be included in the composite as of the first full measurement period that the assets are fully invested. Taurus must apply its policy consistently.

GIPS 标准规定,“在管理每个组合后,Composites 必须及时且一致地包括新组合。”在这种情况下,根据composite策略,预计需要较长时间来投资新客户的资产。假设 Taurus 符合 GIPS 标准,其书面政策将规定及时将新的银行贷款组合纳入Composites 。例如,Taurus 的政策可能要求从资产被完全投资的第一个完整计量期开始,将新的投资组合包括在Composite中。

老师能否解释一下这道题,有点读不懂答案。

题目说,T公司收到某foundation 转来的security, 要卖掉后再invest in a bank loan portfolio, 但投资需求一段时间,问,什么时候把转来的portfolio 放到composite 里面?

1 个答案

伯恩_品职助教 · 2022年03月21日

嗨,努力学习的PZer你好:


题目说,T公司收到某foundation 转来的security, 要卖掉后再invest in a bank loan portfolio, 但投资需求一段时间,问,什么时候把转来的portfolio 放到composite 里面?——对,但是明确说明的是投资在bank loan 里5个月,这期间的业绩计算要及时的放在对应的composite里

----------------------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!

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