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高明月 · 2023年02月26日

私募股权投资者和其他投资者的区别是?

NO.PZ2022120703000089

问题如下:

Which of the following ESG strategies is least likely used by private equity firms?

选项:

A.Positive screening B.Thematic investing C.Negative screening

解释:

C is correct because "like other investor types, private equity investors may certainly impose exclusionary screening i.e. negative screening on any number of criteria to restrict investment in certain sectors, either normatively or ethically defined. However, private equity investors do not have the benefit of the breadth and diversity of indices and benchmarks of the listed equities space, limiting opportunities for peer comparability analysis or portfolio optimization efforts around ESG criteria. However, portfolio managers can benchmark segments of the portfolio against smaller investment universes, even including public companies, if data comparability exists. Hence, it is more likely that the GPs may apply some form of positive screening or thematic focus within their respective investment charter"; and least likely that they would use negative screening.

A is incorrect because "private equity investors do not have the benefit of the breadth and diversity of indices and benchmarks of the listed equities space, limiting opportunities for peer comparability analysis or portfolio optimization efforts around ESG criteria … Hence, it is more likely that the GPs may apply some form of positive screening or thematic focus within their respective investment charter."

B is incorrect because "private equity investors do not have the benefit of the breadth and diversity of indices and benchmarks of the listed equities space, limiting opportunities for peer comparability analysis or portfolio optimization efforts around ESG criteria … Hence, it is more likely that the GPs may apply some form of positive screening or thematic focus within their respective investment charter."

私募股权投资者投资私募股权的好处是不是engage做的更多,那主题投资又是什么意图呢?

2 个答案
已采纳答案

王岑 · 2023年03月01日

嗨,努力学习的PZer你好:


同学你好,

私募股权可以把ESG因素融合到整合投资流程,在ESG实践中有天然的优势,可以有更深入的参与。但私募股权与公共股权的不同是,不能通过跟随一个基准的方式投资。在私募股权中会用到排除的方法,但更多的是用正面筛选或者主题投资。在私募股权中,GP可以使用的投资策略比起公共股权而言,其实更多样化。主题投资是投资一些与可持续发展一致的主题,把它作为构建投资组合的手段,特别是资源水或清洁能源这种议题,在私募股权中是经常被用到的。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

王岑 · 2023年03月01日

嗨,努力学习的PZer你好:


同学你好,

私募股权可以把ESG因素融合到整合投资流程,在ESG实践中有天然的优势,可以有更深入的参与。但私募股权与公共股权的不同是,不能通过跟随一个基准的方式投资。在私募股权中会用到排除的方法,但更多的是用正面筛选或者主题投资。在私募股权中,GP可以使用的投资策略比起公共股权而言,其实更多样化。主题投资是投资一些与可持续发展一致的主题,把它作为构建投资组合的手段,特别是资源水或清洁能源这种议题,在私募股权中是经常被用到的。

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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