In the Topic based practice question from CFA website,
Fixed Inc and Equity Portfolio Mgmt - Tugela
Question 6 asked “Which of the manager selection criteria described by Xulu is least likely appropriate?”
Criteria 1: The quality of the manager’s support staff.
Criteria 2: The impact of consistent duration biases on past performance.
Criteria 3: The manager’s ability to produce positive alpha in the recent past.
The answer is Criteria 3. But I do not understand what does criteria 2 mean? what’s “consistent duration biases”?
Fixed Inc and Equity Portfolio Mgmt - Tugela
Question 6 asked “Which of the manager selection criteria described by Xulu is least likely appropriate?”
Criteria 1: The quality of the manager’s support staff.
Criteria 2: The impact of consistent duration biases on past performance.
Criteria 3: The manager’s ability to produce positive alpha in the recent past.
The answer is Criteria 3. But I do not understand what does criteria 2 mean? what’s “consistent duration biases”?