Which of the following is NOT one of the types of single asset concentration?

The correct answer indicates that government bonds are not categorized under the types of single asset concentration typically highlighted in personal and investment portfolios.

Single asset concentration refers to a significant investment in one specific asset type, leading to potential risks if that asset’s value declines. Common examples of single asset concentrations include publicly traded equity positions, private businesses, and commercial or investment real estate.

Publicly traded equities represent a concentration risk because a large investment in one company could lead to significant loss if that particular company's value depreciates. Similarly, private businesses and real estate holdings demonstrate concentration risk due to their lack of diversification and the inherent business and market risks they carry.

Government bonds, while still an asset class, tend to be viewed differently. They are generally considered safer investments as they are backed by the government’s creditworthiness. This class of assets usually serves as a defensive component in portfolios designed to provide income with relatively lower risk compared to equities and real estate. Consequently, government bonds do not fit the mold of "single asset concentration" in the same way that equities, businesses, and real estate do.