开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

mia · 2022年04月24日

新的composite需不需要enhanced的历史业绩呢？

  1. CFA III
  2. GIPS

NO.PZ2022010501000012

问题如下：

Southwest Capital Advisors LLC manages a fixed-income composite in accordance with an enhanced indexing strategy that makes strategic use of high-yield and emerging market bonds in addition to investment grade bonds issued in developed markets. The Merrimack Company, a family office, has a portfolio that is included in the firm’s fixed-income enhanced indexing composite. Merrimack informs Southwest in writing that, because of changes in its investment policy, the portfolio can no longer hold high-yield or emerging market bonds. In accordance with the GIPS standards, Southwest decides to switch the Merrimack portfolio to another composite. The historical performance of the portfolio must be:

选项：

A.

reflected in both composites.

B.

switched to the new composite.

C.

retained in the enhanced indexing composite.

解释：

C is correct.

The portfolio’s historical performance must remain with the original composite. Portfolios must not be switched from one composite to another unless either documented changes to a portfolio’s investment mandate, objective, or strategy or the redefinition of the composite make it appropriate.

投资组合的历史表现必须与原始组合保持一致。 投资组合不得从一种composite转换为另一种composite，除非对组合的投资授权、目标或策略进行了记录在案的更改，或者composite的重新定义使其适当。

如题，纠结A选项，请解答

添加评论
9 个答案

伯恩_品职助教 · 2022年05月18日

嗨，从没放弃的小努力你好：


搞不懂? Merrimack informs Southwest in writing to changes its investment policy, 客戶更改了 IPS 不是 documented client-directed changes 嗎?——没错啊——所以portfolio移到了新的composite里了啊，只是历史业绩保留在原composite里。

The portfolio’s historical performance must remain with the original composite. Portfolios must not be switched from one composite to another unless either documented changes to a portfolio’s investment mandate, objective, or strategy or the redefinition of the composite make it appropriate.

答案的这句话请看仔细，中间的是句号，也就是和第二句没有关系，历史业绩无论如何都要保留在原来composite里

----------------------------------------------
加油吧，让我们一起遇见更好的自己！

報施 · 2022年05月18日

搞不懂? Merrimack informs Southwest in writing to changes its investment policy, 客戶更改了 IPS 不是 documented client-directed changes 嗎?

伯恩_品职助教 · 2022年05月17日

嗨，爱思考的PZer你好：


請問回答在那裡？——答案在这有啊

----------------------------------------------
努力的时光都是限量版，加油！

伯恩_品职助教 · 2022年05月17日

嗨，从没放弃的小努力你好：


更改後 這 portfolios 符合另一個 composite, 它的 historical performance 是需要放吧?——你在哪里看的都需要放呢？协会handbook 169页，可自行查阅

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

報施 · 2022年05月18日

搞不懂? Merrimack informs Southwest in writing to changes its investment policy, 客戶更改了 IPS 不是 documented client-directed changes 嗎?

報施 · 2022年05月17日

請問回答在那裡？

報施 · 2022年05月16日

更改後 這 portfolios 符合另一個 composite, 它的 historical performance 是需要放吧?

伯恩_品职助教 · 2022年05月12日

嗨，努力学习的PZer你好：


GIPS 要求最少5年, ——是要展示业绩5年。

IPS 已經更改了不是兩面都要保留嗎?——没有，依旧只保留在旧的

----------------------------------------------
努力的时光都是限量版，加油！

報施 · 2022年05月12日

GIPS 要求最少5年, IPS 已經更改了不是兩面都要保留嗎?

伯恩_品职助教 · 2022年04月24日

嗨，从没放弃的小努力你好：


不需要，只要加入的这一刻开始的业绩，即发生在哪就在哪

----------------------------------------------
加油吧，让我们一起遇见更好的自己！

  • 9

    回答

  • 1

    关注

  • 528

    浏览
相关问题

NO.PZ2022010501000012 问题如下 Southwest CapitAisors LLC manages a fixeincome composite in accornwith enhanceinxing strategy thmakes strategic use of high-yielanemerging market bon in aition to investment gra bon issuein velopemarkets. The MerrimaCompany, a family office, ha portfolio this incluin the firm’s fixeincome enhanceinxing composite. Merrimainforms Southwest in writing that, because of changes in its investment policy, the portfolio cno longer holhigh-yielor emerging market bon. In accornwith the GIPS stanr, Southwest cis to switthe Merrimaportfolio to another composite. The historicperformanof the portfolio must be: A.reflectein both composites. B.switcheto the new composite. C.retainein the enhanceinxing composite. C is correct. The portfolio’s historicperformanmust remain with the origincomposite. Portfolios must not switchefrom one composite to another unless either cumentechanges to a portfolio’s investment mante, objective, or strategy or the refinition of the composite make it appropriate. 投资组合的历史表现必须与原始组合保持一致。 投资组合不得从一种composite转换为另一种composite，除非对组合的投资授权、目标或策略进行了记录在案的更改，或者composite的重新定义使其适当。 请问题目中客户写给manager的话不是说明要换一个composite吗？是不满足可以把历史业绩带到新的composite的条件吗？

2024-08-15 00:06 1 · 回答

NO.PZ2022010501000012 问题如下 Southwest CapitAisors LLC manages a fixeincome composite in accornwith enhanceinxing strategy thmakes strategic use of high-yielanemerging market bon in aition to investment gra bon issuein velopemarkets. The MerrimaCompany, a family office, ha portfolio this incluin the firm’s fixeincome enhanceinxing composite. Merrimainforms Southwest in writing that, because of changes in its investment policy, the portfolio cno longer holhigh-yielor emerging market bon. In accornwith the GIPS stanr, Southwest cis to switthe Merrimaportfolio to another composite. The historicperformanof the portfolio must be: A.reflectein both composites. B.switcheto the new composite. C.retainein the enhanceinxing composite. C is correct. The portfolio’s historicperformanmust remain with the origincomposite. Portfolios must not switchefrom one composite to another unless either cumentechanges to a portfolio’s investment mante, objective, or strategy or the refinition of the composite make it appropriate. 投资组合的历史表现必须与原始组合保持一致。 投资组合不得从一种composite转换为另一种composite，除非对组合的投资授权、目标或策略进行了记录在案的更改，或者composite的重新定义使其适当。 我看以往同学们的提问 看的我更加一脸懵逼我浅浅总结下是不是这么个意思？非必要不能瞎移来移去 只有客户fine了的情况下，portfolio才能从composite A移到composite B那如果可以移的情况下，portfolio的历史return要放在composite A里，然后移过去以后的新return只反映在composite B里（历史return也不会被带到B里来）我的理解对吗？谢谢谢谢 提前新年快乐~

2023-01-16 00:38 1 · 回答

NO.PZ2022010501000012 switcheto the new composite. retainein the enhanceinxing composite. C is correct. The portfolio’s historicperformanmust remain with the origincomposite. Portfolios must not switchefrom one composite to another unless either cumentechanges to a portfolio’s investment mante, objective, or strategy or the refinition of the composite make it appropriate. 投资组合的历史表现必须与原始组合保持一致。 投资组合不得从一种composite转换为另一种composite，除非对组合的投资授权、目标或策略进行了记录在案的更改，或者composite的重新定义使其适当。 如题如题如题…………

2022-07-02 13:58 1 · 回答

NO.PZ2022010501000012 switcheto the new composite. retainein the enhanceinxing composite. C is correct. The portfolio’s historicperformanmust remain with the origincomposite. Portfolios must not switchefrom one composite to another unless either cumentechanges to a portfolio’s investment mante, objective, or strategy or the refinition of the composite make it appropriate. 投资组合的历史表现必须与原始组合保持一致。 投资组合不得从一种composite转换为另一种composite，除非对组合的投资授权、目标或策略进行了记录在案的更改，或者composite的重新定义使其适当。 老师是不是可以这样理解当portfolio移到了新的composite里了，它的历史业绩保留在原composite里。但是cument change 和 refine 的portfolio的历史业绩要从原来的composite移出来，放在新的composite？

2022-06-05 07:13 2 · 回答