NO.PZ2023010407000031
问题如下：
The Ælfheah Group is a US-based company with a relatively small pension plan. Ælfheah’s investment committee (IC), whose members collectively have a relatively basic understanding of the investment process, has agreed that Ælfheah is willing to accept modest returns while the IC gains a better understanding of the process Two key investment considerations for the IC are maintaining low overhead costs and minimizing taxes in the portfolio. Ælfheah has not been willing to incur the costs of in-house investment resources.
Ng and the IC review the optimal approach to determine the asset allocation for Ælfheah, including the traditional and risk-based approaches to defining the investment opportunity set.
Determine which approach to determine the asset allocation is most appropriate for Ælfheah. Justify your response.
选项：
解释：
the traditional approach is appropriate, because the investment committee's member have a relatively basic understanding of investment processes.
the risk-based approach need IC members have a deep understanding for investment process.
