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多乐登 · 2025年06月27日

这样回答可以吗?

NO.PZ2023010409000007

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.

Describe how each of the following common characteristics of institutional investors supports the Fund’s allocation to private real estate:

i. Scale

ii. Investment horizon

iii. Governance framework

解释:

| Scale | 

The Fund's large size ($12 billion AUM) allows access to private real estate investments with high minimums. 


| Investment Horizon | 

Long-term horizon and low liquidity needs make private real estate suitable for maintaining purchasing power. 


| Governance Framework | 

Formal governance (Investment Committee/Office) ensures structured approval for private real estate investments. 

1 个答案

Lucky_品职助教 · 2025年06月27日

嗨,努力学习的PZer你好:


你的回答已涵盖各要点的核心逻辑,若希望更完善,可在现有表述基础上补充一下细节。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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