AAA
2025-01-09 01:59請?jiān)敿?xì)解釋為何Q3選B？
所屬：CFA Level III > Portfolio Management Pathway 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個回答
Simon助教
2025-01-10 11:13
該回答已被題主采納
同學(xué)，上午好。
因?yàn)镻embroke analyzes the second fund – Prime U. This fund uses a factor-based strategy to rank securities from most attractive to least attractive. The scoring for each security is based on price-to-book value (P/B), 12-month increase in stock price, and return on assets. Its average P/B is 8.8%, price momentum is 14.5%, and net income to assets is 5.2%.
U要選P/B低的，但是U的P/B 8.8，比index還高，所以和U的策略背離了。not consistency with its declared style.
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追問
題中哪里說明U的策略背離是選比index低的P/B比例？
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追答
如果The scoring for each security is based on price-to-book value (P/B)，基于P/B選股，那么P/B是越低越好?，F(xiàn)在P/B比index都高，顯然就有問題了。
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