请问After部分TOTAL ASSET BETA答案中(21/45)*1

我不太理解，本章另外又提到TOTAL ASSET BETA不光受到PENSION ASSET SIZE（此题15），还受到PENSION ASSET的ASSET ALLOCATION影响（通过PENSION ASSET BETA）。

但是答案中似乎只考虑了SIZE，完全不考虑PENSION ASSET BETA大小就得到TOTAL ASSET BETA。

请指教。

total asset beta=total Liability&Equity beta=weight of equity*the equity beta.

We are told with the beta of pension assets and the weights of each asset, so we can derive the operating asset beta.

Since the beta of pension assets are known, we do not need to know the allocation of the pension.

Hope this answers your question.

Best!