undefinable2022-04-22 22:16:00
undefinable181页32题怎么写答案
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开开2022-04-26 11:41:33
开开同学你好，这题让我们给每个 manager selection process.的component描述两个consideration。component就是指的 qualitative and quantitative components。因此是定量和定性分别写两个consideration。
主要是根据下面这张表，在两个component中分别选两个来写。
定量方面有三个（任选两个即可）：
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?
定性方面分为Investment due diligence和Operational due diligence两部分
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）
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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?
写答案的时候这两部分的9个considerations任选两个即可。具体每个consideration的表述是需要同学记忆一下的。
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