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%作者: cfalevel2011 时间: 2013-4-19 17:49
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?作者: BelalM 时间: 2013-4-19 17:51
I can not find any limitation on percentage of core (minimum) in curr. That ‘s also my confuse…作者: spartanag07 时间: 2013-4-19 17:53
It’s still a Core-Satelite strategy - Low investment in core (passive or semiactive) reflects high risk tolerance作者: spartanag07 时间: 2013-4-19 17:54
I guess that is the explanation from the answer. Did you find something similary in the curriculum?作者: ap0258 时间: 2013-4-19 17:56
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
