Maturity variance CFAI vs SCH

CFAI says :

Maturity variance = diff btn the maturity of the given immunized portfolio - ideal immunized portfolio consisting of ZCB with maturity equal to time horizon

SCH says : its the difference between the maturities of the bonds used in immunization of strategy (same as CFAI) - maturity date of LIABILITY

any views?

you seem to be intent on dissecting apart Schweser. And I am amazed at how you detect these differences.

I would say go with the CFAI definition - as it looks to be the more complete definition.


This is the problem when anyone tries to supplement Schweser with CFAI. For level 3 one should only use CFAI text.

it’s effectively the same answer. i don’t see how this is an issue.