问题如下：
The pension fund is currently fully funded and has followed an asset mix of 60% public equities and 40% bonds. An analyst presents a report in below Exhibit that proposes a new strategic asset allocation for the pension plan. The investment committee of the pension fund states that one of the concerns under the new allocation is that the pension fund needs to be able to fund an upcoming early retirement incentive program (ERIP) that the company will be offering to its employees within the next two years. Employees who have reached the age of 55 and whose age added to the number of years of company service sum to 75 or more can retire 10 years early and receive the defined benefit pension normally payable at age 65.
The investment committee and the analyst discuss suitability considerations related to the allocation in Exhibit 1. The investment committe understands that one of the drawbacks of including the proposed alternative asset classes is that daily reporting will no longer be available. Investment reports for alternatives will likely be received after monthly or quarter-end deadlines used for the plan’s traditional investments. The analyst emphasizes that in a typical private equity structure, the pension fund makes a commitment of capital to a blind pool as part of the private investment partnership.
The suitability concern mentioned above most likely deals with:
选项：
A.governance.
B.transparency.
C.investment horizon.
解释：
B is correct.
The pension plan’s investment in private equities via a blind pool presents the prospect that less than perfect transparency will be associated with the underlying holdings of the alternative asset manager. Capital is committed for an investment in a portfolio of assets that are not specified in advance. In addition, reporting for alternative funds is often less transparent than investors are accustomed to seeing on their stock and bond portfolios.
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