reach fully funded (100%) status in five years, at which point the liabilities will be fully hedged,
minimize fluctuations in expected year-to-year required contributions, and
minimize the administrative and investment costs associated with managing the fund
Q. From the description of Sabonete’s objectives for the SPP, the most appropriate asset allocation approach is: A：mean–variance optimization. B：a basic two-portfolio approach. C：an integrated asset–liability approach.
为CFA官网习题，答案为C，为何不是选B？
