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害羞的国宝🎄 · 2022年07月11日

如题

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NO.PZ201805280100000401

问题如下:

Discuss two reasons why the proposed asset allocation is inappropriate for Titan.

解释:

The proposed asset allocation for Titan is not appropriate because:

1 Given the shift in enrollment trends and declining donations resulting from the sanctions, Titan will likely need greater liquidity in the future because of the increased probability of higher outflows to support university operations. The proposed asset allocation shifts Titan’s allocation into risky assets (increases the relative equity holdings and decreases the relative bond holdings), which would introduce greater uncertainty as to their future value.

2 Titan is relatively small for the proposed addition of private equity. Access to such an asset class as private equity may be constrained for smaller asset owners, such as Titan, who may lack the related internal investment expertise. Additionally, the Sun-Fin Private Equity Fund minimum investment level is $1 million. This level of investment in private equity would be 10% of Titan’s total portfolio value. Given Titan’s declining financial position due to declining enrollments and its resulting potential need for liquidity, private equity at this minimum level of investment is not appropriate for Titan.

流动性需求上升说明RT下降,为啥不是保守投资,增加bond降低equity,

1 个答案

lynn_品职助教 · 2022年07月13日

嗨,努力学习的PZer你好:


流动性需求上升说明RT下降,为啥不是保守投资,增加bond降低equity,

同学上面提出的是正确的的,这道题问的是“为什么建议的资产配置方案不适合Fordhart?”

答案中写到The proposed asset allocation shifts Titan’s allocation into risky assets (increases the relative equity holdings and decreases the relative bond holdings), which would introduce greater uncertainty as to their future value.即增加equity减少bond是不合适的,带来了更大的不确定性。

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努力的时光都是限量版,加油!

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