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tT
发表于 2008-9-16 11:33 | 只看该作者

Reading 34: Alternative Investments Portfolio Management－

involved, justify, active, major
CFA Institute Area 8-11, 13: Asset Valuation
Session 11: Alternative Investments for Portfolio Management
Reading 34: Alternative Investments Portfolio Management
LOS b: Explain and justify the major due diligence checkpoints involved in selecting active managers of alternative investments.
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tycoon

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2#
发表于 2008-9-16 11:34 | 只看该作者

In the due diligence process of selecting an active manager of alternative investments, assessing the investment process means assessing the:

A)special assets the manager offers.
B)
competitive edge the manager offers.
C)stability of the organization and employee turnover.
D)special markets the manager has access to.

Answer and Explanation

In the due diligence checkpoints, assessing the investment process means assessing the competitive edge the manager offers. The special assets and markets are associated with the market opportunity checkpoint. The stability of the organization and employee turnover is associated with the organization checkpoint.

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tycoon

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3#
发表于 2008-9-16 11:34 | 只看该作者

Which of the following is least likely to be a due diligence checkpoint in the selection process of active managers of alternative investments?

A)The service providers like lawyers and ancillary staff working for the managers firm.
B)
The geographic location of the office with respect to the geographic locations in which the manager invests.
C)Market opportunity the manager seeks to exploit.
D)The documents (e.g., prospectuses, of the investments the manager offers).

Answer and Explanation

The due diligence checkpoint list does not mention the geographic location of the offices.

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tycoon

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4#
发表于 2008-9-16 11:35 | 只看该作者

In the due diligence process of selecting an active manager of alternative investments, assessing the organization of the managers firm means assessing the:

A)documents (e.g., prospectuses of the investments the manager offers).
B)geographic location of the office with respect to the geographic locations in which the manager invests.
C)
stability of the firm and staff turnover.
D)terms and structure of the investments the manager offers.

Answer and Explanation

Assessing the organization of the manager and his/her operations means assessing whether it is stable and well run. This would also mean measuring the staff turnover.

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