undefinable
2022-05-12 21:40怎么寫(xiě)這個(gè)題的答案
所屬：CFA Level III > Trading, Performance Evaluation, and Manager Selection 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
開(kāi)開(kāi)助教
2022-05-13 16:18
該回答已被題主采納
同學(xué)你好，這題讓我們給每個(gè) manager selection process.的component描述兩個(gè)consideration。component就是指的 qualitative and quantitative components。因此是定量和定性分別寫(xiě)兩個(gè)consideration。
主要是根據(jù)下面這張表，在兩個(gè)component中分別選兩個(gè)來(lái)寫(xiě)。
定量方面有三個(gè)（任選兩個(gè)即可）：
Attribution and appraisal: To assess if the manager has displayed skill in investing.
The capture ratio: How has the manager performed in “up” versus “down” markets?
Drawdown: Does the return distribution exhibit large drawdowns?
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追答
定性方面分為Investment due diligence和Operational due diligence兩部分
其中Investment due diligence包括4部分：
■Philosophy ：What market inefficiency does the manager seek to exploit?
■Process ： Is the investment process capable of exploiting this inefficiency?
■People ：Do the investment personnel possess the expertise and experience necessary to effectively implement the investment process?
■Portfolio： Is portfolio construction consistent with the stated investment philosophy and process?（未完看追答） -
追答
Operational due diligence包含5部分：
■Process and procedure：Is the back office strong, safeguarding assets and able to issue accurate reports in a timely manner?
■ Firm： Is the firm profitable, with a healthy culture, and likely to remain in business? Is the firm committed to delivering performance over gathering assets?
■Investment vehicle：Is the vehicle suitable for the portfolio need?
■Terms： Are the terms acceptable and appropriate for the strategy and vehicle?
■Monitoring ：Does the manager continue to be the “best” fit for the portfolio need?
寫(xiě)答案的時(shí)候這兩部分的9個(gè)considerations任選兩個(gè)即可。具體每個(gè)consideration的表述是需要同學(xué)記憶一下的。
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