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Dapper425

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tT
发表于 2011-7-11 19:14 | 只看该作者

active management

expected, highest, correct, following, management
Which of the following equity strategies would provide the highest expected active return?
A) Active.
B) Enhanced indexing.
C) Risk-controlled active management.

Your answer: B was incorrect. The correct answer was A) Active.

i thought studies have generally shown that active management generally underperforms indexing strategies
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mar350

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2#
发表于 2011-7-11 19:14 | 只看该作者
It's asking the highest expected active return (not risk-adjusted).

Curious, are B) and C) the same thing? Any difference?

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oneboy

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3#
发表于 2011-7-11 19:14 | 只看该作者
You are right, empirically. But 'expected' active return will be highest for active... IMHO

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wake2000

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4#
发表于 2011-7-11 19:14 | 只看该作者
I think this is the relatioship, please confirm:

ACTIVE RETURN: highest for active, then enhanced index, then pure index (zero active return)

INFORMATION RATIO: highest for enhanced indexing, then active, then passive.

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Roflnadal

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5#
发表于 2011-7-11 19:14 | 只看该作者
markCFAIL Wrote:
-------------------------------------------------------
> I think this is the relatioship, please confirm:
>
> ACTIVE RETURN: highest for active, then enhanced
> index, then pure index (zero active return)
>
> INFORMATION RATIO: highest for enhanced indexing,
> then active, then passive.


Yes.

Active strategy will always produce the greatest active return because the manager doesn't care about the benchmark. Active strategies are based on market expectations.

NO EXCUSES

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