问题如下：
Bern Zang is the recently hired chief investment officer of the Janson University Endowment Investment Office. The Janson University Endowment Fund (the Fund) is based in the United States and has current assets under management of $12 billion. It has a long-term investment horizon and relatively low liquidity needs. The Fund is overseen by an Investment Committee consisting of board members for the Fund. The Investment Office is responsible for implementing the investment policy set by the Fund’s Investment Committee.
The Fund’s current investment approach includes an internally managed fund that holds mostly equities and fixed-income securities. It is largely passively managed with tight tracking error limits. The target asset allocation is 55% equities, 40% fixed income, and 5% alternatives. The Fund currently holds private real estate investments to meet its alternative investment allocation.
Identify the investment approach currently being used by the Investment Committee for managing the Fund. Justify your response.
Justify your response.
选项：
解释：
Norway Model is currently used by the Investment Committee
The investment approach currently used to manage the Fund’s assets is the Norway model. This approach is characterized by a heavy allocation to public equities and fixed-income securities with little allocation to alternatives and largely passively managed assets with tight tracking error limits.
我的答案如下，麻烦老师批改：
The investment approach currently being used is Norway Model.
Reasons：
- The fund has a long-term investment horizon and relatively low liquidity needs.
- The asset size is $12 billion, large enough to use Norway model.
- The fund is largely passively managed with tight tracking error limits and holds only 5% alternatives.
