Which of the following, according to the Brunel Asset Management Accord, is not in itself a likely cause for concern?

Question

BlackTom AI · Accepted Answer

In assessing the question about the Brunel Asset Management Accord, we must evaluate each option against what is typically considered not alarming in isolation.
Option 1: 'short-term underperformance' — This phrase describes a temporary mismatch between performance and benchmarks. Often, short-term dips can occur due to market cycles, stock selection, or temporary market shocks, and by itself may not signal a structural issue. It is frequently viewed as a normal part of investment management and not necessarily a red flag, provided there is a clear plan and alignment with the strategy.
Option 2: 'a change in the expected investment style' — A shift in investment style implies a potential strategic deviation from the stated mandate or mandate drift. This is generally seen as more concerning, because it can indicate misalignment with client goals, risk tolerance, or adherence to agreed restrictions, which warrants scrutiny and governance.
Option 3: 'lack of understanding of reasons for underperformance' — If there is an absence of clarity about why performance fell short, this is problematic. Not knowing the drivers behind underperformance undermines accountability, risk management, and the ability to take corrective action, making it a genuine area for concern.
Thus, among the options, short-term underperformance is less likely to be a standalone cause for concern compared to a strategic style change or an unclear explanation for underperformance, which point to deeper issues in mandate fidelity or transparency.

FINA3401.13791.202610 Practice Chapter 9 Quiz

Which of the following, according to the Brunel Asset Management Accord, is not in itself a likely cause for concern?

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