Level III Asset Allocation

Access to all Level III asset allocation articles until the next Level III exam date

The idea of roll yield – or roll return, same thing – is relatively straightforward: it’s part of the increase or decrease in the value of your portfolio that arises specifically when you roll over an expiring futures or forward contract into a new contract.  The other parts of that increase or decrease is the […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level I Membership, CFA® Level II Membership, CFA® Level II Derivatives Membership, CFA® Level III Membership

This will give you access to this and all other articles at that membership level.

Level III candidates often confuse cross hedges and proxy hedges.  This isn’t their fault: one of the readings makes a distinction between these, while another claims that they’re the same (though it includes a footnote that says that they’re different). Sigh. Suppose that your domestic currency is the Canadian dollar (CAD), and that you have […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level III Membership

This will give you access to this and all other articles at that membership level.

I came across some topics in currency exchange at Level III that seemed to be vexing some candidates, so I thought that it warranted an article.  This will be a catch-all: anything on currency exchange at Level III across which I stumble I’ll include here. Domestic Currency Return vs. Local Currency Return Suppose that your […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level III Membership

This will give you access to this and all other articles at that membership level.