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Dylan02 · 2025年07月03日

这样写可以吗?

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

选项:

解释:

i. scale: the endowment has an AUM of $12 billion, it's quite a large scale for the ednowment to invest in private real estate, will have more investment opportuinites and access to more top-tire managers.

ii. investment horizon: the endowment has a long investment horizon, can meet the illiquid nature of the real estate.

iii. governace framework: In this case, the endowment has a well structured governance structure because 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, allows the endowment invests in the private real estate under sound regulations.

1 个答案

Lucky_品职助教 · 2025年07月04日

嗨,从没放弃的小努力你好:


你的回答逻辑清晰且要点准确,但是把 governace framework再精简一些,例如:

Oversight by an Investment Committee and an Implementation-focused Investment Office ensures structured approval processes for private real estate investments under sound governance.

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