benchmark

CFA Level III Portfolio Management
#1

2017 official Mock PM Q19

answer says: benchmark must be appropriate for sponsor as well as investment manager…

i thought only need this for manager…

besides, why “match passive/active manager with security market index” is wrong? should match with benchmark?

Thanks for any thoughts!

#2

anyone?

#3

The answer is detailed in Section 2 of reading 19.It says many active managers follow specific investment disciples that cannot be adequately described by security market index.

#4

many thanks！