NO.PZ2021060201000015
问题如下:
Current portfolio of an University Endowment Fund (the fund) is invested primarily in public equities, with the rest is invested in fixed income. The fund’s investment objective is to support an annual expenditure rate of 6% and maintain the purchasing power of the asset base within a 10-year time horizon. The fund also hopes to invest in assets that provide the highest degree of diversification to withstand the risks of its dominant stocks. The fund's portfolio manager will consider the potential alternative investment options that best fit the fund's diversification strategy..
Which asset class would best satisfy the Fund’s diversification strategy?
选项:
A. Private equity
B. Private real estate
C. Absolute return hedge fund
解释:
C is correct.
C是正确的。 与私募股权或私人房地产相比,An absolute return hedge fund在分散基金主要公共股权风险方面具有更大的潜力。 绝对回报对冲基金的股票贝塔系数通常低于私募股权或私人房地产的贝塔系数。 此外,An absolute return hedge fund在分散公开股票方面往往表现出很高的潜力,而股票多头/空头对冲基金则表现出适度的潜力来发挥这一作用。
A 是不正确的,因为尽管私募股权相对于公共股权提供适度的多元化,但An absolute return hedge fund有更大的潜力这样做。 私募股权的主要优势是资本增长。
B 是不正确的,因为私人房地产仅提供相对于公共股票的适度多元化,而An absolute return hedge fund有更大的潜力这样做。 私人房地产的主要优势是创收。
感觉三个选项都可以选,没有明显的看到有哪里不符,求指导