The other approach is for the investment managers to take judicious , tactical deviations from the benchmark allocation in order to beat the benchmark return 另一種情況是投資經(jīng)理要作出判斷及定出策略,適當(dāng)?shù)仄x基準(zhǔn)比重,以爭(zhēng)取超越基準(zhǔn)回報(bào)的投資成績(jī)。
One way of working with the benchmark allocation is to follow it exactly , by design or by default , in which case there should not be significant difficulty in achieving the benchmark return 其中一種情況是投資經(jīng)理要完全按照基準(zhǔn)比重來投資,因此要達(dá)到基準(zhǔn)回報(bào)并沒有太大困難。
Whether one is talking about a specially designed portfolio to suit the special needs of a particular customer , or a unit trust type of portfolio that has multiple investor participation , most investment managers work with such a benchmark allocation of financial assets 項(xiàng)主要投資管理因素后厘定。無(wú)論是專門為個(gè)別客戶設(shè)計(jì)的投資組合,抑或供廣大投資者參與的單位信托類型的組合,大部分投資經(jīng)理都會(huì)參照基準(zhǔn)比重來投資。
Investment managers can also try and beat the benchmark return by picking " winners " within each asset class without deviating from the benchmark allocation , and this requires rather more in - depth knowledge at the microeconomic level about , for example , the outlook of technology stocks 此外,投資經(jīng)理亦可以嘗試從每類資產(chǎn)中選出表現(xiàn)優(yōu)秀的項(xiàng)目來投資,從而在沒有偏離基準(zhǔn)比重的情況下,爭(zhēng)取超越基準(zhǔn)回報(bào)的成績(jī)。不過,此舉涉及對(duì)微觀層面比較深入的了解,例如是對(duì)科技股前景的了解。