NO.PZ2019100901000015
问题如下：
The Prometheo University Scholarship Endowment (the Endowment) was established in 1950 and supports scholarships for students attending Prometheo University. The Endowment’s assets under management are relatively small, and it has an annual spending policy of 6% of the five-year rolling asset value.
Formulate the investment objectives section of the investment policy statement for the Endowment
选项：
解释：
The mission of the Prometheo University Scholarship Endowment is to provide scholarships for students attending the university. In order to achieve this mission, the Endowment must maintain the purchasing power of the assets in perpetuity while achieving investment returns sufficient to sustain the level of spending necessary to support the scholarship budget. Therefore, the investment objective of the endowment should be to achieve a total real rate of return (after inflation) of at least 6% with a reasonable level of risk.
我的答案如下
The mission is to maintain perpetual purchase power.
The primary investment objective is having the real return 6% with specific risk tolerance.
The secondary investment objective is high return than benchmark and peers.
