问题如下：
Bern Zang is the chief investment officer of the Janson University Endowment Investment Office. The Janson University Endowment Fund (the “Fund”) is based in the United States and has current assets under
management of $10 billion, with minimal exposure to alternative
investments. Zang currently seeks to increase the Fund’s allocation to
hedge funds and considers four strategies: dedicated short bias, merger
arbitrage, convertible bond arbitrage, and global macro.
At a meeting
with the Fund’s board of directors, the board mandates Zang to invest
only in event-driven and relative value hedge fund strategies.
Determine, if Merger arbitrage is permitted given the board’s mandate. Justify your response.
选项：
解释：
A merger arbitrage hedge fund strategy is permiited to invest.
A merger arbitrage hedge fund strategy is an example of an event-driven strategy, which is permitted under the board’s mandate. Event-driven hedge fund strategies focus on corporate events, such as governance events, mergers and acquisitions, bankruptcy, and other key events for corporations. Merger arbitrage involves simultaneously purchasing and selling the stocks of two merging companies to create “riskless” profits.
考试时，只回答这些可以吗？
A merger arbitrage hedge fund strategy is permiited to invest.
A merger arbitrage hedge fund strategy is an example of an event-driven strategy, which is permitted under the board’s mandate.
