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jcole21

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tT
发表于 2013-4-19 17:47 | 只看该作者

2011 pm Q23 Core-satellite portfolio

remember, least, 2011, higher, manager
If the weight of passive manager is least among the managers, can you still call a core-satellite portfolio?
In Q23
active manager A 40%
active manager B 40%
passive manager C 20%
I remember in the curriculum the weight of passive manager is higher than 50%

 

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cfalevel2011

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发表于 2013-4-19 17:49 | 只看该作者
im not sure about percentages but i believe you need a large core to mitigate the active risk of the satelites.
if your core is 20% (s&p500) and satelites are each 40% (small and micro cap), im not sure how the core can mitigate so much active risk.
any other thoughts?

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BelalM

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发表于 2013-4-19 17:51 | 只看该作者
I can not find any limitation on percentage of core (minimum) in curr. That ‘s also my confuse…

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spartanag07

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发表于 2013-4-19 17:53 | 只看该作者
It’s still a Core-Satelite strategy - Low investment in core (passive or semiactive) reflects high risk tolerance

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spartanag07

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发表于 2013-4-19 17:54 | 只看该作者
I guess that is the explanation from the answer. Did you find something similary in the curriculum?

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ap0258

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发表于 2013-4-19 17:56 | 只看该作者
this is a BS question and has been discussed to death in recent years - use search
how is 20% considered CORE? crazy, but so goes CFAI theory and wording

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