...What is riskier: buying entire mortgages, with the danger that a homeowner defaults, or securities backed by those loans which prioritise the holder with the first repayments? 哪一样风险更高:购买存在房主违约风险的整笔按揭贷款,还是购买由此类贷款支持、承诺优先向持有人支付还款的证券?
On my calculations of the asset allocation in the Church of England Funded Pensions Scheme, 84% is held in shares, property and derivatives - or what are perceived to be riskier assets.