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qyang · 2020年03月20日

问一道题:NO.PZ2019122802000001

问题如下:

An committee would like to know which alternative asset would best mitigate the risks to the portfolio due to unexpected inflation and also have a relatively low correlation with public equities to provide diversification benefits. Which of the following alternative investments should be recommended?

选项:

A.

hedge funds.

B.

private equities.

C.

commodity futures.

解释:

C is correct.

Real assets (which include energy, infrastructure, timber, commodities, and farmland) are generally believed to mitigate the risks to the portfolio arising from unexpected inflation. Commodities act as a hedge against a core constituent of inflation measures. Rather than investing directly in the actual commodities, commodity futures may be incorporated using a managed futures strategy. In addition, the committee is looking for an asset class that has a low correlation with public equities, which will provide diversification benefits. Commodities are regarded as having much lower correlation coefficients with public equities than with private equities and hedge funds. Therefore, commodities will provide the greatest potential to fulfill the indicated role and to diversify public equities.

if answer C was "commodity", should we select C as well?

1 个答案
已采纳答案

星星_品职助教 · 2020年03月20日

同学你好,

C选项是commodity也不会影响选择,两个角度思考,首先是A,B选项都起不到抗通胀的作用,另一个角度是无论commodity还是commodity futures的形式,都可以抗通胀,只是后者流动性更好一些。

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