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Reading 49: Global Investment Performance Standards Los h~Q1-4

 

LOS h: Explain the role of investment mandates, objectives, or strategies in the construction of composites.

Q1. Which of the following reasons is least likely to explain why a portfolio has been moved from one composite to another?

A)   The firm has redefined the composite, and the portfolio no longer falls under the new definition.

B)   The portfolio size has recently fallen below the minimum threshold specified for the “Japanese Value Equities above ¥500 million” composite.

C)   The portfolio size has grown above £5 million and is more suitable to the “UK Equities above £5 million” composite than the “UK Equities below £5 million” composite.

 

Q2. Which of the following descriptions are appropriate qualifiers for a composite?

          "Small Cap"                        "High Duration"                        "Above

[2009]Session18-Reading 49: Global Investment Performance Standards Los h~Q1-4

 

LOS h: Explain the role of investment mandates, objectives, or strategies in the construction of composites. fficeffice" />

Q1. Which of the following reasons is least likely to explain why a portfolio has been moved from one composite to another?

A)   The firm has redefined the composite, and the portfolio no longer falls under the new definition.

B)   The portfolio size has recently fallen below the minimum threshold specified for the “Japanese Value Equities above ¥500 million” composite.

C)   The portfolio size has grown above £5 million and is more suitable to the “UK Equities above £5 million” composite than the “UK Equities below £5 million” composite.

Correct answer is B)

All of the suggestions could be valid reasons for moving a portfolio into or out from a composite. However, if a portfolio falls below a specified minimum and the drop is not likely to be permanent, then the portfolio may remain in that composite in the short-term.

 

Q2. Which of the following descriptions are appropriate qualifiers for a composite?

          "Small Cap"                        "High Duration"                        "Above

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