NO.PZ2023010407000029
问题如下：
The Ælfheah Group is a US-based company with a relatively small pension plan. Ælfheah’s investment committee (IC), whose members collectively have a relatively basic understanding of the investment process, has agreed that Ælfheah is willing to accept modest returns while the IC gains a better understanding of the process Two key investment considerations for the IC are maintaining low overhead costs and minimizing taxes in the portfolio. Ælfheah has not been willing to incur the costs of in-house investment resources.
Qauhtèmoc Ng is
the investment adviser for Ælfheah. He discusses with the IC its goal of
diversifying Ælfheah’s portfolio to include alternative assets. Ng suggests
considering the following potential investment vehicles:
·
Publicly traded US REIT
·
Relative value hedge fund
·
Tax-efficient angel investment
Ng explains that
for the relative value hedge fund alternative, Ælfheah would be investing
alongside tax-exempt investors.
Determine which
of the potential investment vehicles best meets the investment considerations for
Ælfheah. Justify your
response. Explain for each investment not selected why the investment
considerations are not met.
选项：
解释：
Publicly traded US REIT can meet the investment considerations. because Publicly traded US REIT cost lower fee,which meet the request of maintaining low overhead costs. also, it can provide modest return and the tax is low. and don't occurs costs of in-house investment resources.
Relative value hedge fund use leverage which can not provide modest returns and the volitality is high. Relative value hedge fund occurs costs of in-house investment resources.
Tax-efficient angel investment have a high risk, which can not provide modest return.
