NO.PZ202206210100000101
问题如下:
During Phase 1, the most significant constraint on OHF’s asset allocation choices was the result of:选项:
A.liquidity needs. B.asset size. C.regulation.解释:
SolutionC is correct. During Phase 1, OHF was restricted to investing in only cash and high-grade debt instruments.
B is incorrect. The fund started at $1 billion and was worth $2.2 billion at the end of Phase 1; such a size is considered in the low range for a large institutional portfolio.
A is incorrect. During Phase 1, OHF had no liquidity constraints. No outflows were expected for 20 years, all income was to be reinvested, and the nature of the portfolio was quite liquid by regulation, consisting of cash and high-grade bonds.
C选项怎么理解