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.
大宗商品期货应该是衍生品吧？为什么又属于对冲基金了？
