Determine the investment vehicle that would be most appropriate for lfheahs proposed alternative asset class. Justify your

Determine the investment vehicle that would be most appropriate for Ælfheah’s proposed alternative asset class. Justify your response.

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:

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Determine the investment vehicle that would be most appropriate for lfheah's proposed alternative asset class. (Circle one.) FOFS SMAS Justify your response. UCITS