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Darkblanca · 2024年02月06日

mission到底是什么

NO.PZ2023010409000021

问题如下:

The Prometheo University Scholarship Endowment (the Endowment) was established in 1950 and supports scholarships for students attending Prometheo University. The Endowment’s assets under management are relatively small, and it has an annual spending policy of 6% of the five-year rolling asset value.

Formulate the investment objectives section of the investment policy statement for the Endowment.

选项:

解释:

The mission of the Prometheo University Scholarship Endowment is to provide scholarships for students attending the university. In order to achieve this mission, the Endowment must maintain the purchasing power of the assets in perpetuity while achieving investment returns sufficient to sustain the level of spending necessary to support the scholarship budget. Therefore, the investment objective of the endowment should be to achieve a total real rate of return (after inflation) of at least 6% with a reasonable level of risk.

答案里说In order to achieve this mission, the Endowment must maintain the purchasing power of the assets in perpetuity while achieving investment returns sufficient to sustain the level of spending necessary to support the scholarship budget.


但是课上说mission是maintain the purchasing power of the assets in perpetuity while achieving investment returns sufficient to sustain the level of spending?

1 个答案

lynn_品职助教 · 2024年02月07日

嗨,努力学习的PZer你好:


答案里说In order to achieve this mission, the Endowment must maintain the purchasing power of the assets in perpetuity while achieving investment returns sufficient to sustain the level of spending necessary to support the scholarship budget.


但是课上说mission是maintain the purchasing power of the assets in perpetuity while achieving investment returns sufficient to sustain the level of spending?


上面标黄的是普遍都要有的部分,标绿色的是不同的,其实课上讲的是一个普遍的模板,然后根据具体的题目来增加细节


一般题目会告诉我们:Maintain the purchasing power into perpetuity,Support the Uninvestity in perpetuity等,有的还会说spending具体是什么,例如本题 to provide scholarships 


同学直接记下面总结的部分


Endowment: 


目标概述,所有Endowment通用:maintain the purchasing power of the assets into perpetuity while achieving investment returns sufficient to sustain the spending necessary to support the university budget.


题目具体有相关数据的话,再额外补下面一句,带上题目里的数据:


primary objective is typically to achieve a total real rate of return (after inflation, HEPI) of X% (5%) with expected volatility of Y% (10% ~15% )over the long term (K years).


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