微信扫一扫
实时资讯全掌握
|
At the time of its initial public offering (IPO), a mutual fund is invested primarily in junk bonds. As part of its strategy, it is also invested in some zero-coupon U.S. Treasury bonds. The amount of the investment in the Treasury bonds is such that their maturity value equals 90% of the current value of the fund. Which of the following may a CFA Institute member say to her clients concerning the fund at issuance? A. Since the fund is backed by the U.S. government, you know you will get your money back. B. The fund is virtually default risk free. C. A CFA Institute member may not make either of these statements. |