问题1:
影响pension fund 的investment horizon有哪些因素?
影响pension fund 的liqudity need 有哪些因素?
影响pension fund 的risk tolerance 有哪些因素?
影响pension fund 的risk objective 有哪些因素?
以上四个问题描述哪些因素的影响?
在考试中 可以回答一样吗?
问题2:
(上面这四个)
回答的时候,都从以下几方面进行描述吗?
1.plan status
2.sponsor financial status and profitability
3.sponsor risk exposure
4.plan features
5.workforce features
1.higher plan surplus implies lower liquidity need and higher risk tolerance
2.lower debt to asset ratio implies higher risk tolerance
higher sponsor profitability implies higher risk tolerance
larger sonpor company size to pension plan size implies higher risk tolerance
3.lower correlation for the exposure of asset of pension plan
4.
5.younger workforce implies higher risk tolerance
问题3.描述 pension plan 的investment objective 和risk objective,回答是一样的吗?
这样描述可以吗?
Primary objective is achieve long term target return
secondary objective is minimize the PV of expected cash contributions