题目
In comparison to other alternative investment approaches, co-investing is most likely:
选项
A.more expensive.
B.subject to adverse selection bias.
C.the most flexible approach for the investor.
答案
B
解析
B is correct. Co-investing may be subject to adverse selection bias. For example, the fund manager may make less attractive investment opportunities available to the co-investor while allocating its own capital to more appealing deals.A is incorrect because co-investing is likely not more expensive than fund investing since co-investors can co-invest an additional amount alongside the fund directly in a fund investment without paying management fees on the capital that has been directly invested.C is incorrect because direct investing, not co-investing, provides the greatest amount of flexibility for the investor. B是正确的。共同投资可能受到逆向选择偏差的影响。例如，基金经理可能会向共同投资者提供吸引力较低的投资机会，同时将自己的资本分配给更具吸引力的交易。A是不正确的，因为共同投资可能不会比基金投资更昂贵，因为共同投资者可以与基金一起直接共同投资基金投资，而无需支付直接投资资本的管理费。C是不正确的，因为直接投资，而不是共同投资，为投资者提供了最大的灵活性。