The management of investment portfolios of collective investment schemes, pension funds, insurance funds, hedge funds, and private equity would normally be considered to fall into the scope of:
A. The retail financial sector
B. The wholesale financial sector
C. Family offices
D. Private banking
Answer: B
Explanation:
Wholesale Financial Sector Defined
Involves large-scale financial transactions and services for institutions like pension funds, hedge funds, and insurance funds.
Why the Answer is B
Managing portfolios of collective investment schemes and large funds is a hallmark of the wholesale sector, focused on institutional rather than retail clients.
Why Other Options are Incorrect
A. Retail financial sector: Caters to individual clients, not institutional portfolios.
C. Family offices: Focus on managing wealth for high-net-worth families.
D. Private banking: Primarily deals with individual high-net-worth clients.
ICWIM Study Guide, Chapter on Financial Market Segments: Differentiates wholesale and retail sectors.
Investment Management Literature: Describes wholesale services.
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