烦请老师帮忙看下这么回答可以吗？谢谢老师

NO.PZ2019100901000010 问题如下 Bern Zang is the recently hirechief investment officer of the Janson University Enwment Investment Office. The Janson University Enwment Fun(the Fun is basein the UniteStates anhcurrent assets unr management of $12 billion. It ha long-term investment horizon anrelatively low liquity nee. The Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.The Funs current investment approainclus internally managefunthhol mostly equities anfixeincome securities. It is largely passively managewith tight tracking error limits. The target asset allocation is 55% equities, 40% fixeincome, an5% alternatives. The Funcurrently hol private reestate investments to meet its alternative investment allocation.scrihow eaof the following common characteristiof institutioninvestors supports the Funs allocation to private reestate:i. Scaleii. Investment horizoniii. Governanframework 老师请问下，关于Governanframework的作答。是不是参考知识框架图P66页的地方？然后结合实际案例，是吧？谢谢

NO.PZ2019100901000010 问题如下 Bern Zang is the recently hirechief investment officer of the Janson University Enwment Investment Office. The Janson University Enwment Fun(the Fun is basein the UniteStates anhcurrent assets unr management of $12 billion. It ha long-term investment horizon anrelatively low liquity nee. The Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.The Funs current investment approainclus internally managefunthhol mostly equities anfixeincome securities. It is largely passively managewith tight tracking error limits. The target asset allocation is 55% equities, 40% fixeincome, an5% alternatives. The Funcurrently hol private reestate investments to meet its alternative investment allocation.scrihow eaof the following common characteristiof institutioninvestors supports the Funs allocation to private reestate:i. Scaleii. Investment horizoniii. Governanframework i. ScalePrivate reestate is a kinof alternatives anit nee a large firm scale to implement the strategy. Because large firm have more experienof alternative investment anskillepersonnel. Also there are minimium of investment size for alternatives. Enwment Fun(the Fun is basein the UniteStates anhcurrent assets unr management of $12 billion whicoulconsirea large firm scale.ii. Investment horizonInvestment in alternatives requires higher liquity anfirms who have longer investment horizon are more suitable for the alternative investment. Enwment Funha long-term investment horizon anrelatively low liquity nee so it is suitable for the investment. iii. GovernanframeworkInvestment in alternatives requires a efficient governanframework whicombines a boarof rectors to set long term strtegic asset allocation anInvestment Committee to set IPS anlegate investment works to investment staffs.T he Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee. It is suitable for the Reestate investments

NO.PZ2019100901000010 问题如下 Bern Zang is the recently hirechief investment officer of the Janson University Enwment Investment Office. The Janson University Enwment Fun(the Fun is basein the UniteStates anhcurrent assets unr management of $12 billion. It ha long-term investment horizon anrelatively low liquity nee. The Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.The Funs current investment approainclus internally managefunthhol mostly equities anfixeincome securities. It is largely passively managewith tight tracking error limits. The target asset allocation is 55% equities, 40% fixeincome, an5% alternatives. The Funcurrently hol private reestate investments to meet its alternative investment allocation.scrihow eaof the following common characteristiof institutioninvestors supports the Funs allocation to private reestate:i. Scaleii. Investment horizoniii. Governanframework Scale: The funs current AUM is $12 billion, this cmeet the high minimum investment size of alternative investment.Investment Horizon: The funha long-term investment horizon anrelatively low liquity nee.Governanframework: The Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.

NO.PZ2019100901000010 问题如下 Bern Zang is the recently hirechief investment officer of the Janson University Enwment Investment Office. The Janson University Enwment Fun(the Fun is basein the UniteStates anhcurrent assets unr management of $12 billion. It ha long-term investment horizon anrelatively low liquity nee. The Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.The Funs current investment approainclus internally managefunthhol mostly equities anfixeincome securities. It is largely passively managewith tight tracking error limits. The target asset allocation is 55% equities, 40% fixeincome, an5% alternatives. The Funcurrently hol private reestate investments to meet its alternative investment allocation.scrihow eaof the following common characteristiof institutioninvestors supports the Funs allocation to private reestate:i. Scaleii. Investment horizoniii. Governanframework scalethe funwith assets unr management of $12 billion is large in size， whihaccess to top managersinvestment horizonthe funha long-term investment horizon anrelatively low liquity nee. so investing in private reestate is suitable for it.governanframeworkThe Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.so it ha formgovernanframework to invest in alternative.

NO.PZ2019100901000010 问题如下 Bern Zang is the recently hirechief investment officer of the Janson University Enwment Investment Office. The Janson University Enwment Fun(the Fun is basein the UniteStates anhcurrent assets unr management of $12 billion. It ha long-term investment horizon anrelatively low liquity nee. The Funis overseen Investment Committee consisting of boarmembers for the Fun The Investment Offiis responsible for implementing the investment poliset the Funs Investment Committee.The Funs current investment approainclus internally managefunthhol mostly equities anfixeincome securities. It is largely passively managewith tight tracking error limits. The target asset allocation is 55% equities, 40% fixeincome, an5% alternatives. The Funcurrently hol private reestate investments to meet its alternative investment allocation.scrihow eaof the following common characteristiof institutioninvestors supports the Funs allocation to private reestate:i. Scaleii. Investment horizoniii. Governanframework 机构投资者资产规模大于五百万就是large asset size了吗？