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必过1030_ · 2020年01月31日

问一道题:NO.PZ201909280100000802

* 问题详情,请 查看题干

问题如下:

2 In answering the question raised in Statement 2, Park would most likely recommend:

选项:

A.

bonds.

B.

hedge funds.

C.

private equities.

解释:

C is correct.

When projecting expected returns, the order of returns from highest to lowest is typically regarded as private equities, hedge funds, bonds. Therefore, the probability of achieving the highest portfolio return while maintaining the funded status of the plan would require the use of private equities in conjunction with public equities. In addition, private equities have a high/strong potential to fulfill the role of capital growth. Fixed-income investments are expected to have a high/strong potential to fulfill the role of safety.

hedged fund 为什么不可以啊?

1 个答案

Olive_品职助教 · 2020年02月03日

嗨,努力学习的PZer你好:


题目要求“achieve the greatest probability of maintaining the pension funding status over a long time horizon”,目前funded status是能够不依靠contribution,支付“a number of years”的pension payments,投资目标是希望可以维持这种状态“over a long time horizon”,因为不依靠contribution,那么就只能依靠投资收益,题干又要求“greatest probability”,PE的expected return是最高的,所以选C。考点是“PE比hedge fund的return高”,这个结论老师在课上是强调过的。


-------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!


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