查询词典 equalization fund

Among them the influence factor of the stock is mainly: Fund manager select stocks ability, investment style and ability to deal with the accident, national macroeconomy situation factor, the market value of stock usually have the direct influence to the fund net value; To bond part in the net value of the fund, interest rate and the investment ability of fund manager concerns the value level of this part of assets directly, because the securities regulator of our country has made the regulation to the proportion of the fund investment bond besides this, so, this proportion will restrict fund managers investment on the bond either, thus exercise an influence on some value of bond ; Besides stock and two bond, to another important component in the net value composition --The cash, we will all sum up its factor of exerting an influence for the mobile risk factor, namely the risk as a reasult of the exility of cash.

其中股票方面的影响因素主要是：基金经理的选股能力、投资风格和选时能力以及大盘走势与突发事件、国家宏观经济形势因素，股票市值通常受到这些因素的直接影响；对于基金净值中的债券部分来说，利率和基金经理的投资能力直接关系到这部分资产的价值高低，除此以外由于我国证券监管机构对基金投资债券的比例作了规定，因此，该比例也会制约基金经理在债券上的投资，从而对债券部分价值发生影响；除了股票和债券两部分以外，对于净值构成中的另一重要组成部分——现金，我们将对其产生影响的因素全部归纳为流动性风险因素，即由于现金的稀缺而导致的风险。

Since the first open-end fund issue, there are 5th redemption, which also reveals more profound form of market phenomena causing open-end fund liquidity risk. In 2002, the open-end fund market was just established, in order to expand the size, many funds only attract institutional investors, and do not distinguish between investor by their liquidity preference. Under such single structure, institutional investors large size redemption will cause fund scale reduced significantly, which suffered huge losses. In 2003, as the Funds growth, more and more retail investors join in fund market and occupy a dominant position. Due to the lack of awareness of the fund market, they all use the concept of stock investment.

自开放式基金成立以来，中国历史上的5次赎回也更深刻的揭示了构成开放式基金流动性风险的市场现象。2002年为开放式基金成立初期，很多基金为了吸纳资本，扩大规模，只面向机构投资者融资，并且不区分投资者的流动性偏好，在这种单一的结构下，机构投资者的大额赎回就导致基金规模的锐减，从而遭受巨大损失。2003年，随着基金的发展，越来越多的散户介入其中并占据主导地位，由于缺乏对基金市场的认识，按照原有投资股票的理念投资基金，所以在低迷的股市稍有起色，基金稍有赢利时，就开始赎回，造成了多只基金净值的损失。2005年，保险行业可以直接入市，再加之逐渐回升的行情和基金公司高额的手续费，很多保险公司开始赎回持有的基金转而直接入市。

If July internationally renowned real estate fund management institutions Shengyang real estate fund with U.S. Homy Fund groups signed a 200 million U.S. dollars fund management framework, the Group commissioned by Homyfund Shengyang real estate fund in China real estate investment and management, commissioned by the Investment Management Fund is typical pattern.

如7月国际著名房地产基金管理机构盛阳地产基金与美国HOMY FUND集团签署了2亿美元的基金委托管理框架协议，由HOMYFUND集团委托盛阳地产基金在中国进行房地产投资和管理，这是基金委托投资管理模式的典型案例。

The author considers, the risks which basic pension fund operation faced is the main reason which influent the safety of basic pension fund. Comprehensibly, there are four kinds of risk: first, capture risk of basic pension fund; second, payment risk of basic pension fund; third, investment risk of basic pension fund; fourth, management risk of basic pension fund.

本文认为，影响我国基本养老保险基金安全运行的原因在于基金在运行过程中面临的各种风险，综合起来看，基金面临的风险主要有：1、基金的收缴风险；2、基金的支付风险；3、基金的投资运营风险；4、基金的管理风险。

Having no steady fund source, which exists in the implementary of public housing system in Xi"an, as the incisive point. The paper analyzes and calculates the problem of fund deficiency in today"s fund source channel and studies the method of solving the problem during the process of incorporating, using and managing in extant employee housing accumulation fund system in the towns. The paper also advances the ampliative accumulation fund system and builds up the corresponding operating model by adopting the mode of financing affiance, analyzes the investment method by using blurred linear programming and appraises its incremental effect.

本文以解决西安市廉租住房制度实施中存在的主要问题之一—无稳定的资金来源为切入点，在调研资料的基础上，分析测算了目前的资金来源渠道存在的资金不足问题，同时研究了现存的城镇职工住房公积金制度在归集、使用和管理过程中存在问题的解决途径，提出了扩大的住房公积金并采用金融信托方式构建了相应的运作模式，利用模糊线性规划模型对其投资方式进行了分析并对其增值效果进行了评价。

The same period of a few of the new fund has its own unique features, the only fund manager's point of view, Hua-core optimization of aspiring fund managers Chen Yu Qiao is relatively good, Qiao Chen Yu was in charge of the Hua is Manulife in 2007,"Taurus Award" winners, leaving early in 2008, she became Manulife closed-end fund's manager, EMC, EMC this year's performance in closed-end funds are also among the best in both open-end funds in the bull market's performance in the lead, There are also closed-end funds in the bear market leader in the industry's resilience in the performance of the fund's manager of new products cause for concern.

了一个新的基金数同期都有自己独特的功能，唯一的基金经理的角度来看，华有抱负的基金经理的核心优化陈于乔石委员长是比较好的，乔石在谌渝负责的华于2007年宏利，"金牛奖"得主，在2008年初离开，她成为宏利封闭式基金的经理，EMC公司，EMC公司今年的业绩在封闭式基金也几乎是在开放式最佳结束基金在牛市的中，也有封闭的，在行业中的基金经理的新产品性能弹性熊市资金方面领导带头的表现令人担忧。

The origin of the fund-management stimulating problem is that the standard of rational agent's activities is utility maximum.But, in the reality, the fund investor and the fund administrator are a kind of consignation and there is information asymmetry. The fund investor wants to make the fund administrator act according to the benefits of the former, but the investor can't observe the investment activity of the administrator directly and in time. He can only observe other variables which are decided by the administrator's activity and other outside uncertain factors.

基金激励问题产生的根源在于理性人的行动都以自身效用或利益最大化为标准，但在现实中，基金投资者与基金管理者是一种委托代理关系且两者之间存在着信息不对称，基金投资者想使基金管理人按照前者的利益选择行动，但投资者不能直接及时地观察管理人的投资行动，他能观察到的只是另一些指标变量，这些变量由管理人的行动和其他外生随机因素共同决定。

Center is located at the vortex of the financial crisis in the hedge fund industry suffered heavy losses, at least 350 were out of funds (including hedge funds Peloton Partners in London's size 1.8 billion U.S. dollars of hedge fund ABS Fund, another total Department of the London-based hedge fund MKM Longboat Capital Advisors LLP has no choice but to shut down its 1.5 billion U.S. dollars of the multi-strategy fund).

中心是在对对冲基金行业的金融危机的旋涡中位于损失惨重，至少有350人进行资金（包括对冲基金在伦敦的尺寸1.8亿美元的对冲基金获取和惠益分享基金美元珀莱东伙伴另一位伦敦总部的对冲基金资本顾问威宝朗伯特事务所别无选择，只能关闭其15亿美元的多策略基金）。

Announcement this week issued a new silver fund agricultural Agricole permanent and increased profits and revenue optimization Pu Silver AXA Bond Fund 2, Urawa silver optimize revenue AXA AXA issued Pu Yin second only to the fund, said goodbye to the "single fund" era, the "single-fund" the company currently only remaining farmland, a silver Agricole.

本周宣布发布了一项新的农业基金，东方汇理银常任理事国和增加利润和收入优化浦银安盛债券基金，浦银安盛优化收入浦银安盛发行的第二只基金，告别了"单只基金"的时代，"单基金"，该公司目前仅存的农田，一银汇理。

In the meantime, the industry experience as a result of the person that found and administrative experience are not rich still, the enterprise did not build whole credit system, total value is inferior, accordingly, found period the enterprise often is lacked raise fund expeditely channel, the optimal choice that this stage business raises fund is to pass the means such as equity fund, poineering fund, venture capital to undertake raising fund.

同时，由于创建者的行业经验和治理经验还不丰富，企业没有建立起完整的信用体系，总体价值较低，因此，创建期的企业往往缺乏畅通的筹资渠道，此阶段企业筹资的最佳选择是通过股权基金、创业基金、风险资金等方式进行筹资。

For the head-teacher of the class said that I had seriously broken the school rules,which led me to a three-day suspend class.

为什么呢？因为我的班主任说我严重的违反了校规，于是让我停课三天。

Many of them believe that the conversion of thousands of working-class folk in England spared that nation from the mass carnage and the tyranny that came with the revolution in France.

他们之中有许多人相信，在英国数以千计的劳工阶级之悔改信主使英国免於遭受如法国大革命所造成的大屠杀和专制暴政。