easy · CFA Level I ethics
A portfolio manager is allocating a partial fill of 5,000 shares of Kestrel Grid. He has two clients with 5,000-share orders each: a large pension fund and his fee-paying brother. The most compliant allocation is:
- 2,500 shares to the pension fund and 2,500 shares to the brother.
- 5,000 shares to the pension fund because it is a larger, more important client.
- 5,000 shares to the brother to help him build his position faster.
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