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The manager of a bond fund is assessing several choices in attempting to immunize a portfolio. To meet a predetermined liability, the manager needs a 6% return. Which of the choices below would be the best in pursuit of that goal? An immunized strategy with a target return equal to: A. 6.0% with a 95% confidence interval at +/- 10 basis points. B. 6.0% with a 99% confidence interval at +/- 20 basis points. C. 6.4% with a 95% confidence interval at +/- 40 basis points. |