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齐旬 · 2024年02月02日

没有看懂题目

NO.PZ2023103101000028

问题如下:

Q. Which of the following has the highest weighting to current yield?

选项:

A.Greenfield assets with limited construction and demand risk

B.Fully constructed brownfield assets with contracted revenues

C.Greenfield assets without guarantees of demand upon completion

解释:

The correct answer is B. Brownfield assets with mitigated risks (e.g., fully constructed with contracted/regulated revenues) that are located in the most stable OECD countries have a high weighting to current yield. Greenfield assets with limited construction and demand risk have a mix of yield and capital appreciation. Greenfield projects without guarantees of demand upon completion—e.g., variable electricity prices, uncertain traffic on roads and through ports—have a high weighting to capital appreciation.

可以解释一下每个选项吗?

1 个答案

pzqa35 · 2024年02月02日

嗨,从没放弃的小努力你好:


这个题目的意思就是说哪一个对于current yield的权重最高,也就是想问哪一个资产能够提供的现金流是最稳定的,而不是更多依赖于资产升值。那么brown field整体的现金流都比green field更为稳定,而且B选项中的brownfield还是已经完工状态,并且有稳定的合同,所以是选B。A选项中说greenfield需要一定的建设,并且有一定的demand risk,所以现金流没有那么稳定。C选项中的greenfield没有保证的需求,那这个现金流比A更不稳定,总体来说B是最稳定的,所以选B。

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