易同學(xué)
2021-04-07 11:44百題段case6 Ng，第三題，這題看了答案還是不太明白在說(shuō)什么，能請(qǐng)老師解釋一下嗎？
所屬：CFA Level III > Ethical and Professional Standards 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
Chris Lan助教
2021-04-13 17:13
該回答已被題主采納
同學(xué)你好
The discussion then moves on to a new composite that Rune is constructing. Arnott tells Ng that the marketing department has decided to target domestic Swiss investors and would like to carve out the Swiss portion of international and global accounts for the period of 1 January 2006 through 1 January 2011 and allocate cash to each carved-out segment to create a Swiss franc (CHF) composite.
這個(gè)表述時(shí)間錯(cuò)了，應(yīng)該是2010年開始。
GIPS的規(guī)定如下：
3.A.8 For periods >= 2010, a carve-out must not be included in a composite unless the carve-out is managed separately with its own cash balance.
比如有一個(gè)balance strategy 的組合組，其中有股票有債券，股票由張三管理，債券由李四管理；同時(shí)張三李四各自還獨(dú)立管理著股票和債券組合組。現(xiàn)在張三要完整展示自己的業(yè)績(jī)，于是將復(fù)合策略組合組中的股票“挖”出來(lái)和張三自己的股票組合組一起合并展示，此為carve-out。在2010年后，對(duì)carve-out要求建立獨(dú)立現(xiàn)金管理。
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