NO.PZ2022062601000021
问题如下:
The FOF fund recently plans to allocate some alternative assets and prepare to invest in several alternative investment funds. After learning about this situation, Jack, the new compliance director, reviewed the progress in transitioning to alternative investments and the materials received from the general partner of the investment. Jack hopes:
each fund to identify and provide the qualifications of those who have the responsibility and authority to make investment decisions;
outside experts brought in to provide quarterly updates on market conditions and expectations,explaining which sectors of the private equity and private credit markets are most likely to benefit from these expectations; and
to know what assets are held by each fund at the end of each quarter and how those assets are valued for reporting purposes.
Jack's request is the least realistic in the following aspects:
选项:
A.
fund governance.
B.
investor expertise.
C.
transparency and reporting.
解释:
C is correct. Although it is reasonable to expect private equity or private credit general partners to explain how the value of assets is reported (such as using independent managers), complete transparency of shareholding cannot be expected. To some extent, investors in these markets must be satisfied with buying into a blind pool of assets.
A is incorrect. It is reasonable to expect the general partner to explain who has investment decision-making authority or responsibility, and to clarify that the person has the knowledge, time, and ability to make good decisions.
B is not correct. Investments in private equity and private credit require investors to believe that the market is inefficient in certain aspects of alternative investment profits. The Investment Committee would like to understand how market conditions may be beneficial for certain alternative investment strategies, which is reasonable and appropriate.
知识点考察:Suitability Considerations
C 是正确的。尽管期望私募股权或私人信贷普通合伙人解释如何评估资产以进行报告(例如,使用独立管理人)是合理的,但不能期望持股完全透明。在某种程度上,这些市场的投资者必须对购买a blind pool of assets感到满意。
题目是不是出错了?感觉选项和原文对不起来?题目哪里有transparency和inverstor expertise 的相关表述?