NO.PZ2023103101000014
问题如下：
Q. The most likely effect on a portfolio’s diversification when exposure to direct lending commences is that it:
选项：
A.decreases.
B.remains the same.
C.increases.
解释：
C is correct. While private capital can have overall positive contributions to diversification, direct lending can involve a large capital commitment to a single borrower, with increased concentration risk and reduced diversification. Investors attempt to protect against the risk of direct lending by having the debt itself classified as senior and secured with protective covenants in place to benefit from the associated higher interest rates while reducing non-diversifiable specific risk associated with a single borrower.
协会勘误过，正确答案为C
想问下到底选A or C
如果选C请解释下？
