3. Kate, a 25-year old Irish female, has just set up a pension fund. a) How will Kate's investment strategy for her pension fund change over time? b) Suggest specific ways that Kate could diversify her pension fund and outline the advantages and disadvantages of such a diversification strategy. Kate's initial key investment objective is to invest in "secure and marketable funds which provide good inflation protection". c) Suggest specific ways that Kate could meet this objective. Kate has very good Excel/VBA skills, being a former MATH20210 student, and has decided to build a stochastic investment model of her pension fund. d) What input variables to such a model might Kate decide to model stochastically and what output variables from such a model might Kate then what to analyse in depth