上下限的问题

问题如下：

The strategic asset allocation of Chris is 50% equity/50%bond, with a rebalancing range of 10%. Yesterday, Chris won a lottery of $20,000. He decided to open a new account for the reward and donate all the money after 20 years. The goal of donation has low priority, but Chris desires to earn the highest return if possible. The asset allocation of the donation account is most likely:

选项：

A.

50% equity/50%bond.

B.

60% equity/40% bond.

C.

100% equity/0% bond.

解释：

C is correct.

考点：goal-based asset allocation

解析：Chris的钱可以看作是他的sub-portfolio，目标的特点是low priority & high desire，这样的sub-portfolio可以投的更激进一些。另一方面，投资期20年-时间长，要求回报率-越高越好，所以可以全部投资到equity中。rebalancing range是针对原有资产的，对这笔新的资产不适用。