noname6688 发表于 2020-9-27 01:55 PM
谢谢。请教老大
WINDOWDRESSING的具体目标是什么?
https://www.investopedia.com/terms/w/windowdressing.asp
What Is Window Dressing?
Window dressing is a strategy used by mutual fund and other portfolio managers near the year or quarter end to improve the appearance of a fund’s performance before presenting it to clients or shareholders. To window dress, the fund manager sells stocks with large losses and purchases high-flying stocks near the end of the quarter. These securities are then reported as part of the fund's holdings.
How Window Dressing Works
Performance reports and a list of the holdings in a mutual fund are usually sent to clients every quarter, and clients use these reports to monitor the fund's investment returns. When performance has been lagging, mutual fund managers may use window dressing to sell stocks that have reported substantial losses, replacing them with stocks expected to produce short-term gains to improve the overall performance of the fund for the reporting period.
Another variation of window dressing is investing in stocks that do not meet the style of the mutual fund. For example, a precious metals fund might invest in stocks in a hot sector at the time, disguising the fund's holdings and investing outside the scope of the fund’s investment strategy.
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