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Jessica XU · 2024年05月14日

current yield

NO.PZ2023122201000037

问题如下:

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:

Brownfield assets with mitigated risks (e.g., fully con- structed 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.

棕地(例如,已完全建成并具有合同或受监管的收入),位于最稳定的经济合作与发展组织(OECD)国家,其主要依赖于当前收益。而那些具有有限建设和需求风险的绿地资产,则是当前收益和资本增值的混合。没有完成时需求保证的绿地项目则主要依赖于资本增值。

current yield是等于annual coupon payment/market value吧?

那这道题应该怎么解析?我虽然理解解释中说绿地主要依靠增值,但是这和current yield有什么关系?

1 个答案

pzqa35 · 2024年05月15日

嗨,努力学习的PZer你好:


这里的current yield主要是指期间现金流的一个收益,也就是income的收益。所以这道题可以转化为哪种投资的income是最大的。

所以对于已经建成的棕地,期间现金流的收益是最高的,而绿地主要依靠的是资产增值,所以是选B。

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