{"id":11446,"date":"2026-09-24T09:00:00","date_gmt":"2026-09-24T00:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/?p=11446"},"modified":"2026-09-24T18:46:26","modified_gmt":"2026-09-24T09:46:26","slug":"cfa-l3-pc-glossary","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/24\/cfa-l3-pc-glossary\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 Portfolio Construction \u7528\u8a9e\u96c6\u3011Portfolio Construction \u306e\u91cd\u8981\u7528\u8a9e61\u8a9e\uff5c\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473\u3092\u5358\u5143\u5225\u306b\u6574\u7406"},"content":{"rendered":"<style> .cfagl-nav{background:#f6f7fb;border-radius:6px;padding:1em 1.2em;margin:1em 0;line-height:1.9;word-break:normal;overflow-wrap:anywhere} .cfagl-nav a{display:block;margin:.15em 0} .cfagl-lm{font-size:.9em;margin:.2em 0 1em} .cfagl-t{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.75em 1em;margin:0 0 .8em;background:#fff} .cfagl-t .en{display:block;font-weight:bold;color:#172152;line-height:1.5;word-break:normal;overflow-wrap:anywhere} .cfagl-t .ja{display:block;font-size:.9em;color:#555;margin:.15em 0 .4em;line-height:1.5} .cfagl-t .df{display:block;line-height:1.75} .cfafm-c{border:1px solid #d5d9e3;border-top:4px solid #172152;border-radius:4px;padding:.9em 1em;margin:0 0 1.2em;background:#fff} .cfafm-c .nm{display:block;font-weight:bold;color:#172152;line-height:1.5} .cfafm-c .ne{display:block;font-size:.85em;color:#667;margin-bottom:.5em;word-break:normal;overflow-wrap:anywhere} .cfafm-x{background:#f6f7fb;border-radius:4px;padding:.6em .8em;margin:.4em 0 .7em;overflow-x:auto;overflow-y:hidden;-webkit-overflow-scrolling:touch} .cfafm-x .katex-display{margin:.3em 0!important} .cfafm-lg{margin:.3em 0 .6em;padding:0;font-size:.92em} .cfafm-lg div{display:flex;gap:.8em;padding:.25em 0;border-bottom:1px dotted #d5d9e3;line-height:1.6} .cfafm-lg .s{flex:0 0 auto;min-width:4.5em;max-width:45%;overflow-x:auto} .cfafm-lg .d{flex:1 1 auto} .cfafm-u{display:block;line-height:1.75;font-size:.95em} .cfafm-u b{color:#172152} .cfahub-g{display:grid;grid-template-columns:repeat(auto-fill,minmax(250px,1fr));gap:.8em;margin:1em 0} .cfahub-g a{display:block;border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em;background:#fff;text-decoration:none;color:#172152;line-height:1.5} .cfahub-g a .n{display:block;font-weight:bold} .cfahub-g a .j{display:block;font-size:.88em;color:#555} .cfagl-t p:empty,.cfafm-c p:empty,.cfahub-g p:empty,.cfagl-nav p:empty{display:none} .cfagl-lsc{border:2px solid #c9a227;background:#fffbea;border-radius:6px;padding:.9em 1.1em;margin:1em 0 1.4em;line-height:1.75} .cfagl-lsc b{display:block;color:#8a6d1d;margin-bottom:.3em} .cfagl-lsc a{display:inline-block;margin-top:.4em;font-weight:bold} .cfahub-g a .c{display:block;font-size:.82em;color:#8a6d1d;margin-top:.3em} <\/style>\n<div class=\"box05\">CFA\u00ae\ufe0e Level 3\u300cPortfolio Construction\uff08\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u7bc9\uff09\u300d\u3067\u4f7f\u308f\u308c\u308b\u91cd\u8981\u7528\u8a9e\u3092\u3001\u5b66\u7fd2\u5358\u5143\uff08Learning Module\uff09\u3054\u3068\u306b<strong>\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473<\/strong>\u306e3\u70b9\u30bb\u30c3\u30c8\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002\u51687\u5358\u5143\u30fb61\u8a9e\u3092\u53ce\u9332\u3057\u3066\u3044\u307e\u3059\u3002\u82f1\u8a9e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u3092\u8aad\u3080\u3068\u304d\u306e\u8f9e\u66f8\u4ee3\u308f\u308a\u306b\u304a\u4f7f\u3044\u304f\u3060\u3055\u3044\u3002<\/div>\n<div class=\"cfagl-lsc\"><b>Leveraged Support Course \u3092\u3054\u5229\u7528\u306e\u65b9\u3078<\/b>FA-Academy \u306e Leveraged Support Course\uff08LSC\uff09\u3092\u3054\u5229\u7528\u306e\u65b9\u306b\u306f\u3001\u3053\u306e\u7528\u8a9e\u96c6\u3068\u516c\u5f0f\u96c6\u3092\u30ec\u30d9\u30eb\u5225\u306b\u6574\u7406\u3057\u305f\u8cc7\u6599\uff08PDF\uff09\u3092\u304a\u6e21\u3057\u3057\u3066\u3044\u307e\u3059\u3002\u30aa\u30d5\u30e9\u30a4\u30f3\u3067\u306e\u78ba\u8a8d\u3084\u8a66\u9a13\u76f4\u524d\u306e\u898b\u76f4\u3057\u306b\u3054\u6d3b\u7528\u304f\u3060\u3055\u3044\u3002<a href=\"https:\/\/triumphmind.com\/cfa\/gokuhi\/\">Level 3 Leveraged Support Course \u306e\u8a73\u7d30\u3092\u898b\u308b<\/a><\/div>\n<h2>\u5358\u5143\uff08LM\uff09\u4e00\u89a7<\/h2>\n<div class=\"cfagl-nav\"><a href=\"#l3-pc-g-lm1\">LM1 \u682a\u5f0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\u306e\u6982\u8981<\/a><a href=\"#l3-pc-g-lm2\">LM2 \u50b5\u5238\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\u306e\u6982\u8981<\/a><a href=\"#l3-pc-g-lm3\">LM3 \u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u6295\u8cc7\u3078\u306e\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3<\/a><a href=\"#l3-pc-g-lm4\">LM4 \u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a6\u30a7\u30eb\u30b9\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u6982\u8981<\/a><a href=\"#l3-pc-g-lm5\">LM5 \u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528<\/a><a href=\"#l3-pc-g-lm6\">LM6 \u53d6\u5f15\u30b3\u30b9\u30c8\u3068\u96fb\u5b50\u5e02\u5834<\/a><a href=\"#l3-pc-g-lm7\">LM7 \u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08SWF\uff09<\/a><\/div>\n<h2>Portfolio Construction \u306e\u91cd\u8981\u7528\u8a9e\uff08LM\u5225\uff09<\/h2>\n<h3 id=\"l3-pc-g-lm1\">LM1 Overview of Equity Portfolio Management\uff08\u682a\u5f0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\u306e\u6982\u8981\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm1\/\">LM1 \u682a\u5f0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\u306e\u6982\u8981<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Securities Lending<\/div>\n<div class=\"ja\">\u8cb8\u682a\uff08\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u30fc\u30ba\u30fb\u30ec\u30f3\u30c7\u30a3\u30f3\u30b0\uff09<\/div>\n<div class=\"df\">\u4fdd\u6709\u682a\u5f0f\u3092\u4e00\u5b9a\u671f\u9593\u307b\u304b\u306e\u5e02\u5834\u53c2\u52a0\u8005\u306b\u8cb8\u3057\u51fa\u3057\u3001\u8cb8\u682a\u6599\u3084\u53d7\u3051\u5165\u308c\u305f\u62c5\u4fdd\u306e\u904b\u7528\u76ca\u3092\u5f97\u308b\u53d6\u5f15\u3002\u682a\u5f0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u8ffd\u52a0\u53ce\u76ca\u6e90\u3068\u306a\u308b\u4e00\u65b9\u3001\u76f8\u624b\u65b9\u30ea\u30b9\u30af\u3084\u62c5\u4fdd\u904b\u7528\u306e\u30ea\u30b9\u30af\u3092\u4f34\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Dividend Capture<\/div>\n<div class=\"ja\">\u914d\u5f53\u53d6\u308a\uff08\u30c7\u30a3\u30d3\u30c7\u30f3\u30c9\u30fb\u30ad\u30e3\u30d7\u30c1\u30e3\u30fc\uff09<\/div>\n<div class=\"df\">\u6a29\u5229\u843d\u3061\u65e5\u306e\u524d\u306b\u682a\u5f0f\u3092\u8cb7\u3044\u3001\u914d\u5f53\u3092\u53d7\u3051\u53d6\u308b\u6a29\u5229\u3092\u5f97\u305f\u5f8c\u306b\u58f2\u5374\u3059\u308b\u3053\u3068\u3067\u914d\u5f53\u53ce\u5165\u3092\u7a4d\u307f\u4e0a\u3052\u308b\u53d6\u5f15\u6226\u7565\u3002\u682a\u5f0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u53ce\u76ca\u6e90\u306e\u4e00\u3064\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Cash-Secured Put Writing<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30c3\u30b7\u30e5\u62c5\u4fdd\u4ed8\u304d\u30d7\u30c3\u30c8\u58f2\u308a<\/div>\n<div class=\"df\">\u884c\u4f7f\u3055\u308c\u305f\u5834\u5408\u306e\u8cfc\u5165\u4ee3\u91d1\u3092\u73fe\u91d1\u3067\u78ba\u4fdd\u3057\u305f\u3046\u3048\u3067\u30d7\u30c3\u30c8\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u58f2\u308a\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u53d7\u3051\u53d6\u308b\u6226\u7565\u3002\u30ab\u30d0\u30fc\u30c9\u30fb\u30b3\u30fc\u30eb\u3068\u4e26\u3076\u30aa\u30d7\u30b7\u30e7\u30f3\u3092\u4f7f\u3063\u305f\u30a4\u30f3\u30ab\u30e0\u6226\u7565\u3067\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Shareholder Engagement<\/div>\n<div class=\"ja\">\u682a\u4e3b\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8<\/div>\n<div class=\"df\">\u682a\u4e3b\u304c\u8b70\u6c7a\u6a29\u884c\u4f7f\u3084\u7d4c\u55b6\u9663\u3068\u306e\u5bfe\u8a71\u3092\u901a\u3058\u3066\u4f01\u696d\u306b\u95a2\u4e0e\u3059\u308b\u30d7\u30ed\u30bb\u30b9\u3002\u30ac\u30d0\u30ca\u30f3\u30b9\u3084\u696d\u7e3e\u306e\u6539\u5584\u304c\u671f\u5f85\u3055\u308c\u308b\u4e00\u65b9\u3001\u8cbb\u7528\u30fb\u6642\u9593\u3084\u5229\u76ca\u76f8\u53cd\u306a\u3069\u306e\u6b20\u70b9\u3082\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Free-Rider Problem<\/div>\n<div class=\"ja\">\u30d5\u30ea\u30fc\u30e9\u30a4\u30c0\u30fc\u554f\u984c<\/div>\n<div class=\"df\">\u4e00\u90e8\u306e\u682a\u4e3b\u304c\u30b3\u30b9\u30c8\u3092\u8ca0\u62c5\u3057\u3066\u884c\u3063\u305f\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u306e\u6210\u679c\u3092\u3001\u95a2\u4e0e\u3057\u306a\u304b\u3063\u305f\u682a\u4e3b\u3082\u540c\u69d8\u306b\u4eab\u53d7\u3067\u304d\u308b\u3053\u3068\u3002\u95a2\u4e0e\u306e\u8a98\u56e0\u3092\u5f31\u3081\u308b\u8981\u56e0\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Activist Investor<\/div>\n<div class=\"ja\">\u30a2\u30af\u30c6\u30a3\u30d3\u30b9\u30c8\uff08\u7269\u8a00\u3046\u682a\u4e3b\uff09<\/div>\n<div class=\"df\">\u4f01\u696d\u306e\u682a\u5f0f\u3092\u53d6\u5f97\u3057\u3001\u7d4c\u55b6\u30fb\u6226\u7565\u30fb\u8cc7\u672c\u653f\u7b56\u306a\u3069\u306e\u5909\u66f4\u3092\u50cd\u304d\u304b\u3051\u308b\u3053\u3068\u3067\u682a\u4fa1\u306e\u4e0a\u6607\u306b\u3088\u308b\u5229\u76ca\u3092\u72d9\u3046\u6295\u8cc7\u5bb6\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Proxy Voting<\/div>\n<div class=\"ja\">\u8b70\u6c7a\u6a29\uff08\u4ee3\u7406\uff09\u884c\u4f7f<\/div>\n<div class=\"df\">\u682a\u4e3b\u7dcf\u4f1a\u3067\u306e\u8b70\u6848\u306b\u5bfe\u3057\u3001\u682a\u4e3b\u304c\u81ea\u3089\u3001\u307e\u305f\u306f\u4ee3\u7406\u4eba\u3092\u901a\u3058\u3066\u8b70\u6c7a\u6a29\u3092\u884c\u4f7f\u3059\u308b\u3053\u3068\u3002\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u306e\u4e2d\u3067\u6700\u3082\u5f71\u97ff\u529b\u306e\u5927\u304d\u3044\u624b\u6bb5\u306e\u4e00\u3064\u3068\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Equal-Weighted Index<\/div>\n<div class=\"ja\">\u7b49\u91d1\u984d\u52a0\u91cd\u6307\u6570<\/div>\n<div class=\"df\">\u3059\u3079\u3066\u306e\u69cb\u6210\u9298\u67c4\u306b\u540c\u3058\u30a6\u30a8\u30a4\u30c8\u3092\u4e0e\u3048\u308b\u6307\u6570\u3002\u6642\u4fa1\u7dcf\u984d\u52a0\u91cd\u3068\u6bd4\u3079\u3066\u5c0f\u578b\u682a\u5bc4\u308a\u306e\u7279\u6027\u3092\u6301\u3061\u3001\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u983b\u5ea6\u304c\u9ad8\u3044\u305f\u3081\u904b\u7528\u30b3\u30b9\u30c8\u304c\u5897\u3048\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pc-g-lm2\">LM2 Overview of Fixed-Income Portfolio Management\uff08\u50b5\u5238\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\u306e\u6982\u8981\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm2\/\">LM2 \u50b5\u5238\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\u306e\u6982\u8981<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Liability-Based Mandate<\/div>\n<div class=\"ja\">\u8ca0\u50b5\u30d9\u30fc\u30b9\u306e\u30de\u30f3\u30c7\u30fc\u30c8<\/div>\n<div class=\"df\">\u5c06\u6765\u306e\u8ca0\u50b5\u306e\u652f\u6255\u3044\u306b\u8cc7\u7523\u3092\u5408\u308f\u305b\u308b\u3053\u3068\u3092\u76ee\u7684\u3068\u3057\u305f\u50b5\u5238\u904b\u7528\u306e\u59d4\u8a17\u5f62\u614b\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30fb\u30de\u30c3\u30c1\u30f3\u30b0\u3068\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u30de\u30c3\u30c1\u30f3\u30b0\u304c\u4e3b\u306a\u624b\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Total Return Mandate<\/div>\n<div class=\"ja\">\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u578b\u30de\u30f3\u30c7\u30fc\u30c8<\/div>\n<div class=\"df\">\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u3078\u306e\u8ffd\u968f\u307e\u305f\u306f\u8d85\u904e\u3092\u76ee\u6307\u3059\u50b5\u5238\u904b\u7528\u306e\u59d4\u8a17\u5f62\u614b\u3002\u76ee\u6a19\u3068\u3059\u308b\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30ea\u30b9\u30af\u306e\u5927\u304d\u3055\u306b\u3088\u308a\u3001\u7d14\u7c8b\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u3001\u30a8\u30f3\u30cf\u30f3\u30b9\u30c8\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u3001\u30a2\u30af\u30c6\u30a3\u30d6\u306b\u5206\u304b\u308c\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Enhanced Indexing<\/div>\n<div class=\"ja\">\u30a8\u30f3\u30cf\u30f3\u30b9\u30c8\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9<\/div>\n<div class=\"df\">\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u306e\u4e3b\u8981\u306a\u30ea\u30b9\u30af\u7279\u6027\u3092\u304a\u304a\u3080\u306d\u7dad\u6301\u3057\u306a\u304c\u3089\u3001\u5c0f\u3055\u306a\u4e56\u96e2\u3092\u8a8d\u3081\u3066\u624b\u6570\u6599\u30fb\u30b3\u30b9\u30c8\u63a7\u9664\u5f8c\u3067\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u3092\u308f\u305a\u304b\u306b\u4e0a\u56de\u308b\u3053\u3068\u3092\u72d9\u3046\u904b\u7528\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Spread Duration<\/div>\n<div class=\"ja\">\u30b9\u30d7\u30ec\u30c3\u30c9\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u5909\u5316\u3057\u305f\u3068\u304d\u306e\u50b5\u5238\u4fa1\u683c\u306e\u5909\u5316\u7387\u3092\u793a\u3059\u611f\u5fdc\u5ea6\u3002\u56fd\u50b5\u5229\u56de\u308a\u306e\u5909\u5316\u306b\u5bfe\u3059\u308b\u611f\u5fdc\u5ea6\u3068\u306f\u533a\u5225\u3057\u3066\u4fe1\u7528\u30ea\u30b9\u30af\u306e\u7ba1\u7406\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Duration Times Spread (DTS)<\/div>\n<div class=\"ja\">DTS\uff08\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u30bf\u30a4\u30e0\u30ba\u30fb\u30b9\u30d7\u30ec\u30c3\u30c9\uff09<\/div>\n<div class=\"df\">\u30b9\u30d7\u30ec\u30c3\u30c9\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u00d7\u30b9\u30d7\u30ec\u30c3\u30c9\u6c34\u6e96\u3067\u6c42\u3081\u308b\u4fe1\u7528\u30ea\u30b9\u30af\u306e\u6307\u6a19\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u5909\u5316\u5e45\u306f\u6c34\u6e96\u306b\u6bd4\u4f8b\u3057\u3084\u3059\u3044\u3068\u3044\u3046\u6027\u8cea\u3092\u53cd\u6620\u3057\u3066\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Rolldown Return<\/div>\n<div class=\"ja\">\u30ed\u30fc\u30eb\u30c0\u30a6\u30f3\u30fb\u30ea\u30bf\u30fc\u30f3<\/div>\n<div class=\"df\">\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u306e\u5f62\u72b6\u304c\u5909\u308f\u3089\u306a\u3044\u307e\u307e\u6642\u9593\u306e\u7d4c\u904e\u3067\u6b8b\u5b58\u671f\u9593\u304c\u77ed\u304f\u306a\u308a\u3001\u50b5\u5238\u306e\u5229\u56de\u308a\u304c\u5909\u5316\u3059\u308b\u3053\u3068\u3067\u751f\u3058\u308b\u4fa1\u683c\u5909\u5316\u306b\u3088\u308b\u53ce\u76ca\u3002\u5229\u56de\u308a\u53ce\u5165\u3068\u5408\u308f\u305b\u3066\u30ed\u30fc\u30ea\u30f3\u30b0\u30fb\u30a4\u30fc\u30eb\u30c9\u3092\u69cb\u6210\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Repurchase Agreement (Repo)<\/div>\n<div class=\"ja\">\u30ec\u30dd\u53d6\u5f15\uff08\u73fe\u5148\u53d6\u5f15\uff09<\/div>\n<div class=\"df\">\u50b5\u5238\u3092\u58f2\u5374\u3057\u3001\u5f8c\u65e5\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u305f\u4fa1\u683c\u3067\u8cb7\u3044\u623b\u3059\u3053\u3068\u3092\u7d04\u3059\u308b\u53d6\u5f15\u3002\u5b9f\u8cea\u7684\u306b\u50b5\u5238\u3092\u62c5\u4fdd\u306b\u3057\u305f\u77ed\u671f\u306e\u8cc7\u91d1\u8abf\u9054\u3067\u3001\u50b5\u5238\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u30ec\u30d0\u30ec\u30c3\u30b8\u624b\u6bb5\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Liability-Driven Investing (LDI)<\/div>\n<div class=\"ja\">\u8ca0\u50b5\u4e3b\u5c0e\u578b\u6295\u8cc7\uff08LDI\uff09<\/div>\n<div class=\"df\">\u5c06\u6765\u306e\u8ca0\u50b5\u306e\u652f\u6255\u3044\u3092\u78ba\u5b9f\u306b\u3059\u308b\u3053\u3068\u3092\u4e3b\u76ee\u7684\u306b\u8cc7\u7523\u3092\u904b\u7528\u3059\u308b\u624b\u6cd5\u3002\u8cc7\u7523\u3068\u8ca0\u50b5\u306e\u91d1\u5229\u611f\u5fdc\u5ea6\u3092\u5408\u308f\u305b\u3001\u7a4d\u7acb\u72b6\u6cc1\u306e\u5909\u52d5\u3092\u6291\u3048\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Cash Flow Matching<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30fb\u30de\u30c3\u30c1\u30f3\u30b0<\/div>\n<div class=\"df\">\u50b5\u5238\u306e\u30af\u30fc\u30dd\u30f3\u3068\u511f\u9084\u91d1\u3092\u8ca0\u50b5\u306e\u652f\u6255\u6642\u671f\u3068\u91d1\u984d\u306b\u5408\u308f\u305b\u3066\u7d44\u3080\u624b\u6cd5\u3002\u518d\u6295\u8cc7\u30ea\u30b9\u30af\u3084\u91d1\u5229\u30ea\u30b9\u30af\u3092\u307b\u307c\u6392\u9664\u3067\u304d\u308b\u304c\u3001\u30b3\u30b9\u30c8\u304c\u9ad8\u304f\u67d4\u8edf\u6027\u306b\u6b20\u3051\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Laddered Portfolio<\/div>\n<div class=\"ja\">\u30e9\u30c0\u30fc\u578b\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa<\/div>\n<div class=\"df\">\u5143\u672c\u3092\u77ed\u671f\u304b\u3089\u9577\u671f\u307e\u3067\u8907\u6570\u306e\u6e80\u671f\u306b\u5747\u7b49\u306b\u914d\u5206\u3057\u305f\u50b5\u5238\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3002\u5b9a\u671f\u7684\u306b\u6e80\u671f\u304c\u5230\u6765\u3057\u3066\u6d41\u52d5\u6027\u3092\u751f\u307f\u3001\u518d\u6295\u8cc7\u306e\u6642\u671f\u3082\u5206\u6563\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pc-g-lm3\">LM3 Asset Allocation to Alternative Investments\uff08\u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u6295\u8cc7\u3078\u306e\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm3\/\">LM3 \u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u6295\u8cc7\u3078\u306e\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Risk-Based Approach (Risk Factor Approach)<\/div>\n<div class=\"ja\">\u30ea\u30b9\u30af\u30fb\u30d9\u30fc\u30b9\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1<\/div>\n<div class=\"df\">\u8cc7\u7523\u3092\u8cc7\u7523\u30af\u30e9\u30b9\u540d\u3067\u306f\u306a\u304f\u682a\u5f0f\u3001\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3001\u30a4\u30f3\u30d5\u30ec\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u306a\u3069\u5171\u901a\u306e\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3067\u6349\u3048\u308b\u65b9\u6cd5\u3002\u8cc7\u7523\u9593\u306e\u30ea\u30b9\u30af\u306e\u91cd\u8907\u3092\u628a\u63e1\u3057\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Lockup Period<\/div>\n<div class=\"ja\">\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u671f\u9593<\/div>\n<div class=\"df\">\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u6295\u8cc7\u5f8c\u3001\u4e00\u5b9a\u671f\u9593\u89e3\u7d04\u304c\u8a8d\u3081\u3089\u308c\u306a\u3044\u671f\u9593\u3002\u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u6295\u8cc7\u306e\u6d41\u52d5\u6027\u3092\u5236\u7d04\u3059\u308b\u4e3b\u8981\u306a\u8981\u56e0\u306e\u4e00\u3064\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Unsmoothing<\/div>\n<div class=\"ja\">\u30a2\u30f3\u30b9\u30e0\u30fc\u30b8\u30f3\u30b0\uff08\u5e73\u6ed1\u5316\u306e\u88dc\u6b63\uff09<\/div>\n<div class=\"df\">\u9451\u5b9a\u8a55\u4fa1\u306a\u3069\u3067\u5e73\u6ed1\u5316\u3055\u308c\u305f\u30ea\u30bf\u30fc\u30f3\u7cfb\u5217\u3092\u88dc\u6b63\u3057\u3001\u5b9f\u969b\u306b\u8fd1\u3044\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3084\u76f8\u95a2\u3092\u63a8\u5b9a\u3059\u308b\u51e6\u7406\u3002\u5e73\u5747\u5206\u6563\u6700\u9069\u5316\u306b\u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u3092\u7d44\u307f\u8fbc\u3080\u969b\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Capital Call<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30b3\u30fc\u30eb<\/div>\n<div class=\"df\">\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30d5\u30a1\u30f3\u30c9\u306e\u904b\u7528\u8005\u304c\u3001\u6295\u8cc7\u5148\u306e\u5b9f\u884c\u306a\u3069\u306b\u5408\u308f\u305b\u3066\u6295\u8cc7\u5bb6\u306b\u7d04\u675f\u6e08\u307f\u8cc7\u91d1\uff08\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\uff09\u306e\u6255\u8fbc\u307f\u3092\u6c42\u3081\u308b\u3053\u3068\u3002\u6642\u671f\u3068\u91d1\u984d\u306f\u4e8b\u524d\u306b\u78ba\u5b9a\u3057\u306a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Unfunded Commitment<\/div>\n<div class=\"ja\">\u672a\u6255\u8fbc\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8<\/div>\n<div class=\"df\">\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u51fa\u8cc7\u7d04\u675f\u984d\u306e\u3046\u3061\u3001\u307e\u3060\u6255\u8fbc\u307f\u3092\u6c42\u3081\u3089\u308c\u3066\u3044\u306a\u3044\u90e8\u5206\u3002\u5c06\u6765\u306e\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30b3\u30fc\u30eb\u306b\u5099\u3048\u305f\u6d41\u52d5\u6027\u306e\u78ba\u4fdd\u304c\u5fc5\u8981\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Overcommitment<\/div>\n<div class=\"ja\">\u30aa\u30fc\u30d0\u30fc\u30fb\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8<\/div>\n<div class=\"df\">\u5206\u914d\u91d1\u306e\u518d\u6295\u8cc7\u306a\u3069\u3092\u898b\u8fbc\u307f\u3001\u76ee\u6a19\u914d\u5206\u984d\u3092\u4e0a\u56de\u308b\u91d1\u984d\u3092\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30d5\u30a1\u30f3\u30c9\u306b\u30b3\u30df\u30c3\u30c8\u3059\u308b\u3053\u3068\u3002\u76ee\u6a19\u914d\u5206\u306e\u9054\u6210\u3092\u65e9\u3081\u308b\u304c\u3001\u8cc7\u91d1\u4e0d\u8db3\u306e\u30ea\u30b9\u30af\u3092\u4f34\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Commitment Pacing<\/div>\n<div class=\"ja\">\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u30fb\u30da\u30fc\u30b9\u8a08\u753b<\/div>\n<div class=\"df\">\u76ee\u6a19\u3068\u3059\u308b\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u8cc7\u7523\u306e\u914d\u5206\u3092\u5b9f\u73fe\u30fb\u7dad\u6301\u3059\u308b\u305f\u3081\u3001\u5e74\u3054\u3068\u306e\u65b0\u898f\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u984d\u3092\u8a08\u753b\u7684\u306b\u6c7a\u3081\u308b\u3053\u3068\u3002\u6255\u8fbc\u307f\u3068\u5206\u914d\u306e\u4e88\u6e2c\u306b\u57fa\u3065\u3044\u3066\u884c\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Style Drift<\/div>\n<div class=\"ja\">\u30b9\u30bf\u30a4\u30eb\u30fb\u30c9\u30ea\u30d5\u30c8<\/div>\n<div class=\"df\">\u904b\u7528\u4f1a\u793e\u306e\u5b9f\u969b\u306e\u904b\u7528\u5185\u5bb9\u304c\u3001\u5f53\u521d\u8868\u660e\u3057\u305f\u6226\u7565\u3084\u30b9\u30bf\u30a4\u30eb\u304b\u3089\u5f90\u3005\u306b\u9038\u308c\u3066\u3044\u304f\u3053\u3068\u3002\u30aa\u30eb\u30bf\u30ca\u30c6\u30a3\u30d6\u6295\u8cc7\u30d7\u30ed\u30b0\u30e9\u30e0\u306e\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0\u3067\u78ba\u8a8d\u3059\u3079\u304d\u9805\u76ee\u306e\u4e00\u3064\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pc-g-lm4\">LM4 An Overview of Private Wealth Management\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a6\u30a7\u30eb\u30b9\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u6982\u8981\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm4\/\">LM4 \u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a6\u30a7\u30eb\u30b9\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u6982\u8981<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Net Worth<\/div>\n<div class=\"ja\">\u7d14\u8cc7\u7523<\/div>\n<div class=\"df\">\u500b\u4eba\u304c\u4fdd\u6709\u3059\u308b\u3059\u3079\u3066\u306e\u8cc7\u7523\u306e\u4fa1\u5024\u304b\u3089\u8ca0\u50b5\u3092\u5dee\u3057\u5f15\u3044\u305f\u984d\u3002\u7a0e\u5f15\u5f8c\u6240\u5f97\u306e\u84c4\u7a4d\u3084\u76f8\u7d9a\u306a\u3069\u306e\u4e16\u4ee3\u9593\u306e\u8cc7\u7523\u79fb\u8ee2\u306b\u3088\u3063\u3066\u5f62\u6210\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Human Capital<\/div>\n<div class=\"ja\">\u4eba\u7684\u8cc7\u672c<\/div>\n<div class=\"df\">\u500b\u4eba\u304c\u5c06\u6765\u5f97\u308b\u52b4\u50cd\u6240\u5f97\u306e\u73fe\u5728\u4fa1\u5024\u3002\u82e5\u3044\u3046\u3061\u306b\u5927\u304d\u304f\u5e74\u9f62\u3068\u3068\u3082\u306b\u6e1b\u5c11\u3057\u3001\u305d\u306e\u6027\u8cea\uff08\u50b5\u5238\u7684\u304b\u682a\u5f0f\u7684\u304b\uff09\u304c\u91d1\u878d\u8cc7\u672c\u306e\u914d\u5206\u306b\u5f71\u97ff\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Financial Capital<\/div>\n<div class=\"ja\">\u91d1\u878d\u8cc7\u672c<\/div>\n<div class=\"df\">\u500b\u4eba\u304c\u4fdd\u6709\u3059\u308b\u91d1\u878d\u8cc7\u7523\u3068\u975e\u91d1\u878d\u8cc7\u7523\uff08\u500b\u4eba\u8cc7\u7523\u30fb\u6295\u8cc7\u8cc7\u7523\uff09\u306e\u7dcf\u79f0\u3002\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u304c\u9032\u3080\u306b\u3064\u308c\u3001\u8caf\u84c4\u3092\u901a\u3058\u3066\u4eba\u7684\u8cc7\u672c\u304c\u91d1\u878d\u8cc7\u672c\u306b\u8ee2\u63db\u3055\u308c\u3066\u3044\u304f\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Economic Net Worth<\/div>\n<div class=\"ja\">\u7d4c\u6e08\u7684\u7d14\u8cc7\u7523<\/div>\n<div class=\"df\">\u91d1\u878d\u8cc7\u672c\u306b\u4eba\u7684\u8cc7\u672c\u3084\u5e74\u91d1\u53d7\u7d66\u6a29\u306a\u3069\u3092\u52a0\u3048\u305f\u62e1\u5f35\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u4e0a\u306e\u8cc7\u7523\u304b\u3089\u8ca0\u50b5\u3092\u5dee\u3057\u5f15\u3044\u305f\u984d\u3002\u500b\u4eba\u306e\u5bcc\u306e\u5168\u4f53\u50cf\u3092\u8868\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Ability to Bear Risk<\/div>\n<div class=\"ja\">\u30ea\u30b9\u30af\u8ca0\u62c5\u80fd\u529b<\/div>\n<div class=\"df\">\u8cc7\u7523\u898f\u6a21\u3001\u6240\u5f97\u306e\u5b89\u5b9a\u6027\u3001\u6295\u8cc7\u671f\u9593\u3001\u8ca0\u50b5\u306e\u72b6\u6cc1\u306a\u3069\u304b\u3089\u5ba2\u89b3\u7684\u306b\u5224\u65ad\u3055\u308c\u308b\u3001\u640d\u5931\u3092\u53d7\u3051\u5165\u308c\u3089\u308c\u308b\u4f59\u529b\u3002\u5fc3\u7406\u7684\u306a\u30ea\u30b9\u30af\u8ca0\u62c5\u610f\u601d\u3068\u306f\u533a\u5225\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Willingness to Bear Risk<\/div>\n<div class=\"ja\">\u30ea\u30b9\u30af\u8ca0\u62c5\u610f\u601d<\/div>\n<div class=\"df\">\u640d\u5931\u3084\u5909\u52d5\u3092\u53d7\u3051\u5165\u308c\u3088\u3046\u3068\u3059\u308b\u6295\u8cc7\u5bb6\u306e\u5fc3\u7406\u7684\u306a\u59ff\u52e2\u3002\u30ea\u30b9\u30af\u8ca0\u62c5\u80fd\u529b\u3068\u98df\u3044\u9055\u3046\u5834\u5408\u306f\u3001\u4e00\u822c\u306b\u4f4e\u3044\u65b9\u3092\u57fa\u6e96\u306b\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3092\u5224\u65ad\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Wealth Transfer Taxes<\/div>\n<div class=\"ja\">\u8cc7\u7523\u79fb\u8ee2\u7a0e<\/div>\n<div class=\"df\">\u76f8\u7d9a\u3084\u8d08\u4e0e\u306b\u3088\u3063\u3066\u8cc7\u7523\u304c\u4ed6\u8005\u306b\u79fb\u8ee2\u3059\u308b\u969b\u306b\u8ab2\u3055\u308c\u308b\u7a0e\u3002\u6240\u5f97\u7a0e\u3001\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30b2\u30a4\u30f3\u7a0e\u3001\u5bcc\u88d5\u7a0e\u306a\u3069\u3068\u4e26\u3073\u3001\u500b\u4eba\u306e\u5b9f\u8cea\u7684\u306a\u7a0e\u5f15\u5f8c\u30ea\u30bf\u30fc\u30f3\u306b\u5f71\u97ff\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Gini Coefficient<\/div>\n<div class=\"ja\">\u30b8\u30cb\u4fc2\u6570<\/div>\n<div class=\"df\">\u6240\u5f97\u3084\u5bcc\u306e\u5206\u914d\u306e\u4e0d\u5e73\u7b49\u5ea6\u30920\u304b\u30891\u306e\u5024\u3067\u793a\u3059\u6307\u6a19\u30020\u306f\u5b8c\u5168\u306b\u5e73\u7b49\u30011\u306b\u8fd1\u3044\u307b\u3069\u4e00\u90e8\u306b\u96c6\u4e2d\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u8868\u3059\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pc-g-lm5\">LM5 Portfolio Management for Institutional Investors\uff08\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm5\/\">LM5 \u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u904b\u7528<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Principal\u2013Agent Problem<\/div>\n<div class=\"ja\">\u30d7\u30ea\u30f3\u30b7\u30d1\u30eb\u30fb\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u554f\u984c<\/div>\n<div class=\"df\">\u53d7\u76ca\u8005\uff08\u30d7\u30ea\u30f3\u30b7\u30d1\u30eb\uff09\u306e\u305f\u3081\u306b\u884c\u52d5\u3059\u3079\u304d\u904b\u7528\u62c5\u5f53\u8005\u3084\u7406\u4e8b\uff08\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\uff09\u304c\u3001\u81ea\u3089\u306e\u5229\u76ca\u3092\u512a\u5148\u3059\u308b\u306a\u3069\u4e21\u8005\u306e\u5229\u5bb3\u304c\u4e00\u81f4\u3057\u306a\u3044\u3053\u3068\u304b\u3089\u751f\u3058\u308b\u554f\u984c\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Norway Model<\/div>\n<div class=\"ja\">\u30ce\u30eb\u30a6\u30a7\u30fc\u30fb\u30e2\u30c7\u30eb<\/div>\n<div class=\"df\">\u4e0a\u5834\u682a\u5f0f\u30fb\u50b5\u5238\u306a\u3069\u4f1d\u7d71\u7684\u8cc7\u7523\u3092\u4e2d\u5fc3\u306b\u3001\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u306b\u8fd1\u3044\u30d1\u30c3\u30b7\u30d6\u5bc4\u308a\u306e\u4f4e\u30b3\u30b9\u30c8\u904b\u7528\u3092\u884c\u3046\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u904b\u7528\u30e2\u30c7\u30eb\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Canada Model<\/div>\n<div class=\"ja\">\u30ab\u30ca\u30c0\u30fb\u30e2\u30c7\u30eb<\/div>\n<div class=\"df\">\u53c2\u7167\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u57fa\u6e96\u306b\u3001\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u306b\u57fa\u3065\u304f\u914d\u5206\u3068\u5185\u90e8\u904b\u7528\u306e\u6bd4\u7387\u306e\u9ad8\u3055\u3092\u7279\u5fb4\u3068\u3059\u308b\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u904b\u7528\u30e2\u30c7\u30eb\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Defined Benefit (DB) Plan<\/div>\n<div class=\"ja\">\u78ba\u5b9a\u7d66\u4ed8\u5e74\u91d1<\/div>\n<div class=\"df\">\u30b9\u30dd\u30f3\u30b5\u30fc\u4f01\u696d\u304c\u5c06\u6765\u306e\u7d66\u4ed8\u984d\u3092\u7d04\u675f\u3059\u308b\u5e74\u91d1\u5236\u5ea6\u3002\u904b\u7528\u6210\u679c\u306b\u304b\u304b\u308f\u3089\u305a\u7d66\u4ed8\u3092\u652f\u6255\u3046\u7fa9\u52d9\u304c\u3042\u308b\u305f\u3081\u3001\u6295\u8cc7\u30ea\u30b9\u30af\u306f\u4e3b\u306b\u30b9\u30dd\u30f3\u30b5\u30fc\u304c\u8ca0\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Defined Contribution (DC) Plan<\/div>\n<div class=\"ja\">\u78ba\u5b9a\u62e0\u51fa\u5e74\u91d1<\/div>\n<div class=\"df\">\u62e0\u51fa\u984d\u3060\u3051\u304c\u5b9a\u3081\u3089\u308c\u3001\u5c06\u6765\u306e\u7d66\u4ed8\u984d\u306f\u904b\u7528\u6210\u679c\u3067\u6c7a\u307e\u308b\u5e74\u91d1\u5236\u5ea6\u3002\u6295\u8cc7\u30ea\u30b9\u30af\u306f\u52a0\u5165\u8005\u81ea\u8eab\u304c\u8ca0\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Vesting<\/div>\n<div class=\"ja\">\u53d7\u7d66\u6a29\u306e\u78ba\u5b9a\uff08\u30d9\u30b9\u30c6\u30a3\u30f3\u30b0\uff09<\/div>\n<div class=\"df\">\u4e00\u5b9a\u306e\u52e4\u7d9a\u671f\u9593\u306a\u3069\u3092\u6e80\u305f\u3059\u3053\u3068\u3067\u3001\u5e74\u91d1\u7d66\u4ed8\u3092\u53d7\u3051\u308b\u6a29\u5229\u304c\u5f93\u696d\u54e1\u306b\u78ba\u5b9a\u3059\u308b\u3053\u3068\u3002DB\u5e74\u91d1\u306e\u8ca0\u50b5\u306e\u5927\u304d\u3055\u3092\u5de6\u53f3\u3059\u308b\u8981\u56e0\u306e\u4e00\u3064\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Sovereign Wealth Fund (SWF)<\/div>\n<div class=\"ja\">\u30bd\u30d6\u30ea\u30f3\u30fb\u30a6\u30a7\u30eb\u30b9\u30fb\u30d5\u30a1\u30f3\u30c9<\/div>\n<div class=\"df\">\u653f\u5e9c\u304c\u6240\u6709\u3059\u308b\u6295\u8cc7\u30d5\u30a1\u30f3\u30c9\u3002\u76ee\u7684\u306b\u3088\u308a\u4e88\u7b97\u5b89\u5b9a\u5316\u3001\u958b\u767a\u3001\u8caf\u84c4\uff08\u4e16\u4ee3\u9593\uff09\u3001\u6e96\u5099\u91d1\u904b\u7528\u3001\u5e74\u91d1\u6e96\u5099\u306a\u3069\u306e\u30bf\u30a4\u30d7\u306b\u5206\u304b\u308c\u3001\u6295\u8cc7\u671f\u9593\u3068\u6d41\u52d5\u6027\u30cb\u30fc\u30ba\u304c\u5927\u304d\u304f\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Spending Rule<\/div>\n<div class=\"ja\">\u652f\u51fa\u30eb\u30fc\u30eb<\/div>\n<div class=\"df\">\u5927\u5b66\u57fa\u91d1\u3084\u8ca1\u56e3\u304c\u6bce\u5e74\u3069\u308c\u3060\u3051\u652f\u51fa\u3059\u308b\u304b\u3092\u5b9a\u3081\u308b\u30eb\u30fc\u30eb\u3002\u904e\u53bb\u306e\u8cc7\u7523\u984d\u306e\u79fb\u52d5\u5e73\u5747\u306b\u4e00\u5b9a\u7387\u3092\u639b\u3051\u308b\u65b9\u5f0f\u306a\u3069\u304c\u3042\u308a\u3001\u652f\u51fa\u306e\u5b89\u5b9a\u5316\u306b\u5f79\u7acb\u3064\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Intergenerational Equity<\/div>\n<div class=\"ja\">\u4e16\u4ee3\u9593\u306e\u516c\u5e73<\/div>\n<div class=\"df\">\u73fe\u5728\u306e\u53d7\u76ca\u8005\u3078\u306e\u652f\u51fa\u3068\u3001\u5c06\u6765\u306e\u53d7\u76ca\u8005\u306e\u305f\u3081\u306e\u9577\u671f\u7684\u306a\u8cfc\u8cb7\u529b\u306e\u7dad\u6301\u3092\u4e21\u7acb\u3055\u305b\u308b\u3068\u3044\u3046\u8003\u3048\u65b9\u3002\u5927\u5b66\u57fa\u91d1\u3084\u8ca1\u56e3\u306e\u904b\u7528\u76ee\u6a19\u306e\u57fa\u790e\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Duration Gap<\/div>\n<div class=\"ja\">\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u30ae\u30e3\u30c3\u30d7<\/div>\n<div class=\"df\">\u8cc7\u7523\u3068\u8ca0\u50b5\u306e\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u5dee\u3002\u9280\u884c\u306a\u3069\u3067\u91d1\u5229\u5909\u5316\u304c\u81ea\u5df1\u8cc7\u672c\u306e\u4fa1\u5024\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u306e\u5927\u304d\u3055\u3068\u65b9\u5411\u3092\u793a\u3057\u3001\u91d1\u5229\u30ea\u30b9\u30af\u7ba1\u7406\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pc-g-lm6\">LM6 Trading Costs and Electronic Markets\uff08\u53d6\u5f15\u30b3\u30b9\u30c8\u3068\u96fb\u5b50\u5e02\u5834\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm6\/\">LM6 \u53d6\u5f15\u30b3\u30b9\u30c8\u3068\u96fb\u5b50\u5e02\u5834<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Explicit Trading Costs<\/div>\n<div class=\"ja\">\u660e\u793a\u7684\u53d6\u5f15\u30b3\u30b9\u30c8<\/div>\n<div class=\"df\">\u58f2\u8cb7\u624b\u6570\u6599\u3001\u53d6\u5f15\u7a0e\u3001\u5370\u7d19\u7a0e\u3001\u53d6\u5f15\u6240\u624b\u6570\u6599\u306a\u3069\u3001\u53d6\u5f15\u306b\u4f34\u3063\u3066\u76f4\u63a5\u652f\u6255\u3044\u91d1\u984d\u304c\u78ba\u8a8d\u3067\u304d\u308b\u30b3\u30b9\u30c8\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Implicit Trading Costs<\/div>\n<div class=\"ja\">\u6697\u9ed9\u7684\u53d6\u5f15\u30b3\u30b9\u30c8<\/div>\n<div class=\"df\">\u30d3\u30c3\u30c9\u30fb\u30a2\u30b9\u30af\u30fb\u30b9\u30d7\u30ec\u30c3\u30c9\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30a4\u30f3\u30d1\u30af\u30c8\u3001\u9045\u5ef6\u30b3\u30b9\u30c8\u3001\u672a\u7d04\u5b9a\u306e\u6a5f\u4f1a\u8cbb\u7528\u306a\u3069\u3001\u4fa1\u683c\u3078\u306e\u5f71\u97ff\u3068\u3057\u3066\u73fe\u308c\u308b\u30b3\u30b9\u30c8\u3002\u76f4\u63a5\u89b3\u6e2c\u3067\u304d\u305a\u63a8\u5b9a\u304c\u5fc5\u8981\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Effective Spread<\/div>\n<div class=\"ja\">\u5b9f\u52b9\u30b9\u30d7\u30ec\u30c3\u30c9<\/div>\n<div class=\"df\">\u7d04\u5b9a\u4fa1\u683c\u3068\u53d6\u5f15\u76f4\u524d\u306e\u4ef2\u5024\u3068\u306e\u5dee\u30922\u500d\u3057\u305f\u3082\u306e\u3067\u30011\u56de\u306e\u53d6\u5f15\u3067\u5b9f\u969b\u306b\u8ca0\u62c5\u3057\u305f\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u8868\u3059\u3002\u6c17\u914d\u30b9\u30d7\u30ec\u30c3\u30c9\u3088\u308a\u5c0f\u3055\u3051\u308c\u3070\u4fa1\u683c\u6539\u5584\u304c\u3042\u3063\u305f\u3053\u3068\u3092\u793a\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Volume-Weighted Average Price (VWAP)<\/div>\n<div class=\"ja\">\u51fa\u6765\u9ad8\u52a0\u91cd\u5e73\u5747\u4fa1\u683c\uff08VWAP\uff09<\/div>\n<div class=\"df\">\u4e00\u5b9a\u671f\u9593\u306e\u7d04\u5b9a\u4fa1\u683c\u3092\u51fa\u6765\u9ad8\u3067\u52a0\u91cd\u5e73\u5747\u3057\u305f\u4fa1\u683c\u3002\u81ea\u3089\u306e\u7d04\u5b9a\u306e\u5e73\u5747\u4fa1\u683c\u3068\u6bd4\u3079\u3066\u53d6\u5f15\u30b3\u30b9\u30c8\u3092\u63a8\u5b9a\u3059\u308b\u304c\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30a4\u30f3\u30d1\u30af\u30c8\u3092\u904e\u5c0f\u8a55\u4fa1\u3057\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Implementation Shortfall<\/div>\n<div class=\"ja\">\u30a4\u30f3\u30d7\u30ea\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u30fb\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb<\/div>\n<div class=\"df\">\u6295\u8cc7\u5224\u65ad\u6642\u70b9\u306e\u4fa1\u683c\u3067\u5168\u91cf\u3092\u58f2\u8cb7\u3067\u304d\u305f\u3068\u4eee\u5b9a\u3057\u305f\u30da\u30fc\u30d1\u30fc\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u3001\u5b9f\u969b\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u6210\u679c\u306e\u5dee\u3002\u660e\u793a\u7684\u30fb\u6697\u9ed9\u7684\u30b3\u30b9\u30c8\u3092\u3059\u3079\u3066\u6349\u3048\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Market Fragmentation<\/div>\n<div class=\"ja\">\u5e02\u5834\u306e\u5206\u65ad\u5316<\/div>\n<div class=\"df\">\u540c\u3058\u9298\u67c4\u304c\u8907\u6570\u306e\u53d6\u5f15\u6240\u3084\u4ee3\u66ff\u53d6\u5f15\u30b7\u30b9\u30c6\u30e0\u3001\u30c0\u30fc\u30af\u30d7\u30fc\u30eb\u306a\u3069\u3067\u53d6\u5f15\u3055\u308c\u3001\u6d41\u52d5\u6027\u304c\u5206\u6563\u3057\u3066\u3044\u308b\u72b6\u614b\u3002\u5e02\u5834\u3092\u6a2a\u65ad\u3057\u3066\u6ce8\u6587\u3092\u57f7\u884c\u3059\u308b\u6280\u8853\u304c\u5fc5\u8981\u306b\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Latency<\/div>\n<div class=\"ja\">\u30ec\u30a4\u30c6\u30f3\u30b7\u30fc<\/div>\n<div class=\"df\">\u3042\u308b\u4e8b\u8c61\u304c\u8d77\u304d\u3066\u304b\u3089\u3001\u305d\u308c\u306b\u5fdc\u3058\u3066\u53d6\u5f15\u306a\u3069\u306e\u884c\u52d5\u3092\u53d6\u308b\u307e\u3067\u306e\u7d4c\u904e\u6642\u9593\u3002\u4f4e\u30ec\u30a4\u30c6\u30f3\u30b7\u30fc\u306e\u53d6\u5f15\u8005\u306f\u4ed6\u8005\u3088\u308a\u65e9\u304f\u60c5\u5831\u306b\u53cd\u5fdc\u3067\u304d\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Front Running<\/div>\n<div class=\"ja\">\u30d5\u30ed\u30f3\u30c8\u30fb\u30e9\u30f3\u30cb\u30f3\u30b0<\/div>\n<div class=\"df\">\u9867\u5ba2\u306a\u3069\u4ed6\u8005\u306e\u6ce8\u6587\u3092\u4e8b\u524d\u306b\u5bdf\u77e5\u3057\u3001\u305d\u306e\u6ce8\u6587\u306b\u3088\u308b\u4fa1\u683c\u5909\u52d5\u304b\u3089\u5229\u76ca\u3092\u5f97\u308b\u305f\u3081\u306b\u5148\u56de\u308a\u3057\u3066\u884c\u3046\u53d6\u5f15\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Spoofing<\/div>\n<div class=\"ja\">\u898b\u305b\u7389\uff08\u30b9\u30d7\u30fc\u30d5\u30a3\u30f3\u30b0\uff09<\/div>\n<div class=\"df\">\u7d04\u5b9a\u3055\u305b\u308b\u610f\u56f3\u306e\u306a\u3044\u6ce8\u6587\u3092\u51fa\u3057\u3066\u9700\u7d66\u3092\u507d\u88c5\u3057\u3001\u4ed6\u306e\u53c2\u52a0\u8005\u3092\u8a98\u5c0e\u3057\u305f\u3046\u3048\u3067\u6ce8\u6587\u3092\u53d6\u308a\u6d88\u3059\u76f8\u5834\u64cd\u7e26\u306e\u624b\u53e3\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Circuit Breaker<\/div>\n<div class=\"ja\">\u30b5\u30fc\u30ad\u30c3\u30c8\u30fb\u30d6\u30ec\u30fc\u30ab\u30fc<\/div>\n<div class=\"df\">\u4fa1\u683c\u304c\u77ed\u6642\u9593\u306b\u4e00\u5b9a\u5e45\u3092\u8d85\u3048\u3066\u5909\u52d5\u3057\u305f\u5834\u5408\u306b\u3001\u53d6\u5f15\u3092\u4e00\u6642\u505c\u6b62\u3059\u308b\u4ed5\u7d44\u307f\u3002\u66b4\u8d70\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u3084\u8aa4\u767a\u6ce8\u306a\u3069\u306b\u3088\u308b\u5e02\u5834\u306e\u6df7\u4e71\u3092\u6291\u3048\u308b\u898f\u5236\u4e0a\u306e\u5bfe\u7b56\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pc-g-lm7\">LM7 Case Study in Portfolio Management: Institutional (SWF)\uff08\u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08SWF\uff09\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pc-lm7\/\">LM7 \u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08SWF\uff09<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Physical Climate Risk<\/div>\n<div class=\"ja\">\u6c17\u5019\u5909\u52d5\u306e\u7269\u7406\u7684\u30ea\u30b9\u30af<\/div>\n<div class=\"df\">\u7570\u5e38\u6c17\u8c61\u3084\u6d77\u9762\u4e0a\u6607\u306a\u3069\u3001\u6c17\u5019\u5909\u52d5\u306b\u3088\u308b\u7269\u7406\u7684\u306a\u5f71\u97ff\u3067\u8cc7\u7523\u304c\u6bc0\u640d\u3057\u305f\u308a\u4fa1\u5024\u304c\u4f4e\u4e0b\u3057\u305f\u308a\u3059\u308b\u30ea\u30b9\u30af\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Transition Risk<\/div>\n<div class=\"ja\">\u79fb\u884c\u30ea\u30b9\u30af<\/div>\n<div class=\"df\">\u4f4e\u70ad\u7d20\u7d4c\u6e08\u3078\u306e\u79fb\u884c\u306b\u4f34\u3046\u898f\u5236\u30fb\u6280\u8853\u30fb\u9700\u8981\u306e\u5909\u5316\u306b\u3088\u3063\u3066\u3001\u8cc7\u7523\u3084\u4e8b\u696d\u306e\u4fa1\u5024\u304c\u640d\u306a\u308f\u308c\u308b\u30ea\u30b9\u30af\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Stranded Asset<\/div>\n<div class=\"ja\">\u5ea7\u7901\u8cc7\u7523<\/div>\n<div class=\"df\">\u898f\u5236\u3084\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u306b\u3088\u308a\u3001\u8010\u7528\u671f\u9593\u304c\u7d42\u308f\u308b\u524d\u306b\u7d4c\u6e08\u7684\u4fa1\u5024\u3092\u5931\u3063\u305f\u308a\u3001\u65e9\u671f\u306e\u6e1b\u640d\u3092\u8feb\u3089\u308c\u305f\u308a\u3059\u308b\u8cc7\u7523\u3002\u5316\u77f3\u71c3\u6599\u95a2\u9023\u8cc7\u7523\u304c\u4ee3\u8868\u4f8b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Enterprise Risk Management (ERM)<\/div>\n<div class=\"ja\">\u5168\u793e\u7684\u30ea\u30b9\u30af\u7ba1\u7406\uff08ERM\uff09<\/div>\n<div class=\"df\">\u7d44\u7e54\u5168\u4f53\u306e\u8ca1\u52d9\u30fb\u975e\u8ca1\u52d9\u306e\u30ea\u30b9\u30af\u3092\u7d71\u5408\u7684\u306b\u7279\u5b9a\u30fb\u6e2c\u5b9a\u30fb\u7ba1\u7406\u3059\u308b\u4ed5\u7d44\u307f\u3002\u30ea\u30b9\u30af\u9078\u597d\u306e\u660e\u78ba\u5316\u3001\u72ec\u7acb\u3057\u305f\u30ea\u30b9\u30af\u7ba1\u7406\u6a5f\u80fd\u3001\u53d6\u7de0\u5f79\u4f1a\u306b\u3088\u308b\u76e3\u7763\u304c\u8981\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Risk Appetite<\/div>\n<div class=\"ja\">\u30ea\u30b9\u30af\u9078\u597d<\/div>\n<div class=\"df\">\u7d44\u7e54\u304c\u76ee\u6a19\u3092\u9054\u6210\u3059\u308b\u305f\u3081\u306b\u53d6\u308b\u610f\u601d\u306e\u3042\u308b\u30ea\u30b9\u30af\u306e\u7a2e\u985e\u3068\u91cf\u3002ERM\u306e\u51fa\u767a\u70b9\u3068\u3057\u3066\u660e\u6587\u5316\u3055\u308c\u3001\u6295\u8cc7\u65b9\u91dd\u3084\u30ea\u30b9\u30af\u9650\u5ea6\u306e\u57fa\u6e96\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Three Lines of Defense<\/div>\n<div class=\"ja\">3\u3064\u306e\u9632\u885b\u7dda<\/div>\n<div class=\"df\">\u30ea\u30b9\u30af\u3092\u53d6\u308b\u4e8b\u696d\u90e8\u9580\u3001\u72ec\u7acb\u3057\u305f\u30ea\u30b9\u30af\u7ba1\u7406\u30fb\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u6a5f\u80fd\u3001\u5185\u90e8\u76e3\u67fb\u306e3\u5c64\u3067\u8cac\u4efb\u3092\u5206\u62c5\u3059\u308b\u30ea\u30b9\u30af\u7ba1\u7406\u306e\u7d44\u7e54\u30e2\u30c7\u30eb\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Co-Investment<\/div>\n<div class=\"ja\">\u5171\u540c\u6295\u8cc7<\/div>\n<div class=\"df\">\u30d5\u30a1\u30f3\u30c9\u3092\u901a\u3058\u305f\u6295\u8cc7\u3068\u4e26\u884c\u3057\u3066\u3001\u307e\u305f\u306f\u4ed6\u306e\u6295\u8cc7\u5bb6\u3068\u3068\u3082\u306b\u3001\u7279\u5b9a\u306e\u6848\u4ef6\u306b\u76f4\u63a5\u51fa\u8cc7\u3059\u308b\u3053\u3068\u3002\u9577\u671f\u306e\u76f4\u63a5\u6295\u8cc7\u3067\u30ea\u30b9\u30af\u3092\u5206\u62c5\u3057\u3001\u624b\u6570\u6599\u3092\u6291\u3048\u308b\u624b\u6bb5\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<h2>\u3042\u308f\u305b\u3066\u4f7f\u3044\u305f\u3044\u30da\u30fc\u30b8<\/h2>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/24\/cfa-l3-pc-formulas\/\">CFA\u00ae\ufe0e Level 3 Portfolio Construction \u516c\u5f0f\u96c6\uff08\u8a18\u53f7\u306e\u610f\u5473\u3068\u4f7f\u3044\u3069\u3053\u308d\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/cfa-level3-glossary\/\">CFA\u00ae\ufe0e Level 3 \u7528\u8a9e\u96c6\uff08\u5168\u79d1\u76ee\u306e\u4e00\u89a7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l3-pc\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 3 Portfolio Construction\uff09<\/a><\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u3001\u7528\u8a9e\u3084\u516c\u5f0f\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/present1\/\" target=\"_blank\" rel=\"noopener\">Level 1 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/gokuhi\/\" target=\"_blank\" rel=\"noopener\">Level 3 Leveraged Support Course\uff08\u7528\u8a9e\u96c6\u30fb\u516c\u5f0f\u96c6\u306e\u6574\u7406\u8cc7\u6599\u3064\u304d\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 3 Portfolio Construction\uff08\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u7bc9\uff09\u306e\u91cd\u8981\u7528\u8a9e61\u8a9e\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306e\u5358\u5143\uff08LM\uff09\u5225\u306b\u3001\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473\u306e3\u70b9\u30bb\u30c3\u30c8\u3067\u6574\u7406\u3057\u305f\u7528\u8a9e\u96c6\u3067\u3059\u3002<\/p>\n","protected":false},"author":1,"featured_media":11627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[101],"tags":[],"class_list":["post-11446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=11446"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11446\/revisions"}],"predecessor-version":[{"id":11567,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11446\/revisions\/11567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11627"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=11446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=11446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=11446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}