Financial Risk Manager Part 2
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A hedge fund manager is worried about a possible surge in investor redemptions and seeks to evaluate the impact of such an event on the fund's liquidity. The manager requests a junior analyst to determine the average number of days needed to liquidate specific securities held in the fund. The analyst utilizes the data provided below to perform this assessment for four securities:
| Security | Market value of security in the fund (CNY million) | Shares of security in the fund | Average daily trading volume | Maximum daily volume allowed for liquidation (expressed as a percentage of average daily trading volume) |
|---|---|---|---|---|
| A | 93.00 | 500,000 | 522,000 | 22% |
| B | 173.04 | 250,000 | 1,328,000 | 12% |
| C | 58.88 | 260,000 | 710,000 | 18% |
| D | 29.80 | 640,000 | 848,000 | 20% |
Which of the four securities listed above is anticipated to require the greatest amount of time to liquidate?