馮同學(xué)
2022-05-15 19:50mock題 這個(gè)第二點(diǎn)我不太理解為什么？多謝
所屬：CFA Level III > Ethical and Professional Standards 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個(gè)回答
Chris Lan助教
2022-05-15 21:49
該回答已被題主采納
同學(xué)您好
The firm must present time-weighted returns unless certain criteria are met, in which case the firm may present money-weighted returns. The firm may present money-weighted returns only if the firm has control over the external cash flows into the portfolios in the composite or pooled fund and the portfolios in the composite have or the pooled fund has at least one of the following characteristics:
a. Closed-end
b. Fixed life
c. Fixed commitment
d. Illiquid investments as a significant part of the investment strategy.
這些內(nèi)容是在GIPS的handbook上查到的，這里并沒有說明，這么做的原因。我覺得，應(yīng)該是作為poolded fund的一個(gè)特征而規(guī)定的。因?yàn)榱鲃?dòng)性差的資產(chǎn)，你不太容易去計(jì)算TWR的。
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