Question 4: Part a: Constructing an investment portfolio without the use of derivatives is claimed to be like building a house without power tools. Discuss this statement with reference to how various types of market actors can use derivatives and which types they are most likely to use. Use examples to illustrate your answers. (18 Marks) Part b: Venture capital is often described as a part of the private equity asset class. Do you agree? Explain the reasoning behind your opinion. (15 Marks)