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\u8fc7\u53bb\uff0c\u501f\u94b1\u51fa\u53bb\u7684\u4eba\u53ef\u4ee5\u6536\u56de\u66f4\u591a\u7684\u94b1\uff0c\u8fd9\u662f\u5bf9\u901a\u80c0\u3001\u507f\u4ed8\u98ce\u9669\u4ee5\u53ca\u653e\u5f03\u5176\u4ed6\u6295\u8d44\u7684\u4e00\u79cd\u8865\u507f\u3002<\/p>\n
\u4f46\u73b0\u5728\u5168\u7403\u6709\u8d85\u8fc715\u4e07\u4ebf\u7f8e\u5143\u7684\u653f\u5e9c\u503a\u5238\u6536\u76ca\u7387\u4e3a\u8d1f\uff0c\u610f\u5473\u8457\u6301\u6709\u8fd9\u4e9b\u503a\u5238\u7684\u50a8\u84c4\u8005\u6b63\u5728\u5411\u653f\u5e9c\u4ed8\u8d39\u5b58\u94b1\u3002<\/p>\n
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\u7136\u800c\u4e2d\u7f8e\u8d38\u6613\u4e89\u7aef\u3001\u5168\u7403\u7ecf\u6d4e\u589e\u957f\u653e\u7f13\u4ee5\u53ca\u53bb\u5e74\u5e74\u5e95\u7684\u91d1\u878d\u5e02\u573a\u52a8\u8361\u6539\u53d8\u4e86\u8fd9\u4e00\u5c40\u9762\u3002\u7f8e\u8054\u50a8\u57282019\u5e74\u5e74\u521d\u8f6c\u53d8\u653f\u7b56\u7acb\u573a\uff0c\u5e76\u5728\u4e0a\u4e2a\u6708\u672b\u4e0b\u8c03\u77ed\u671f\u5229\u7387\uff0c\u4e3a2008\u5e74\u4ee5\u6765\u9996\u6b21\u3002<\/p>\n
\u4e0a\u5468\uff0c\u7531\u4e8e\u6c47\u7387\u6218\u62c5\u5fe7\u52a0\u5267\uff0c\u503a\u5238\u6536\u76ca\u7387\u66b4\u8dcc\u3002\u8fd9\u5f15\u53d1\u4e86\u4e00\u573a\u65b0\u7684\u8ba8\u8bba\uff0c\u5373\u66f4\u5f3a\u5927\u7684\u56e0\u7d20\u5df2\u7ecf\u5c06\u5176\u4ed6\u5730\u533a\u7684\u6536\u76ca\u7387\u62d6\u81f3\u96f6\u4ee5\u4e0b\uff0c\u5728\u8fd9\u79cd\u60c5\u51b5\u4e0b\u7f8e\u56fd\u53ef\u80fd\u4e5f\u65e0\u6cd5\u5e78\u514d\u3002\u8fd9\u4e9b\u56e0\u7d20\u5305\u62ec\u91d1\u878d\u5371\u673a\u4ee5\u6765\u7684\u7ecf\u6d4e\u589e\u957f\u4e4f\u529b\uff0c\u4ee5\u53ca\u4ee4\u8bb8\u591a\u7ecf\u6d4e\u5b66\u5bb6\u611f\u5230\u56f0\u60d1\u7684\u6301\u7eed\u75b2\u8f6f\u7684\u901a\u80c0\u3002<\/p>\n
Sage Advisory Services\u503a\u5238\u7ecf\u7406\u517c\u8d1f\u8d23\u4ebaMark MacQueen\u8868\u793a\u2236\u201c\u5982\u679c10\u5e74\u524d\u4f60\u63d0\u51fa\u8d1f\u5229\u7387\u95ee\u9898\uff0c\u4eba\u4eec\u4f1a\u7b11\u8457\u628a\u4f60\u8d76\u51fa\u623f\u95f4\u3002\u5982\u4eca\uff0c\u4eba\u4eec\u6b63\u5728\u5feb\u901f\u63a5\u53d7\u8d1f\u5229\u7387\u7684\u89c2\u70b9\u3002\u201d<\/p>\n
\u5728\u8fc7\u53bb10\u5e74\u7684\u5176\u4ed6\u51e0\u4e2a\u65f6\u671f\uff0c\u6536\u76ca\u7387\u4e5f\u66fe\u5904\u5728\u5982\u6b64\u4f4e\u7684\u6c34\u5e73\u3002\u4f46\u8bb8\u591a\u6295\u8d44\u8005\u4e0d\u786e\u5b9a\u7684\u662f\uff0c\u5982\u679c\u653f\u7b56\u9762\u6ca1\u6709\u6539\u53d8\uff0c\u7ecf\u6d4e\u524d\u666f\u4e5f\u6ca1\u6709\u610f\u5916\u597d\u8f6c\uff0c\u90a3\u9ebd\u8fd9\u6b21\u4f1a\u6709\u4ec0\u9ebd\u56e0\u7d20\u80fd\u4f7f\u6536\u76ca\u7387\u56de\u5347\u3002<\/p>\n
\u57fa\u51c610\u5e74\u671f\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u4e0a\u5468\u4e94\u6536\u4e8e1.731%\uff0c\u4ecd\u8fdc\u9ad8\u4e8e\u96f6\uff0c\u4e5f\u9ad8\u4e8e1.3%\u7684\u7eaa\u5f55\u4f4e\u70b9\u3002\u4f4610\u5e74\u671f\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u4e0a\u5468\u4e00\u5ea6\u8dcc\u81f31.6%\u7684\u4f4e\u70b9\uff0c\u5f71\u54cd\u6ce2\u53ca\u591a\u4e2a\u5e02\u573a\u2236\u94f6\u884c\u80a1\u4e0b\u8dcc\uff0c\u91d1\u4ef7\u5347\u81f36\u5e74\u9ad8\u70b9\uff0c\u6cb9\u4ef7\u8dcc\u81f3\u8fd17\u4e2a\u6708\u4f4e\u70b9\u3002<\/p>\n
\u6536\u76ca\u7387\u4e0b\u964d\u5e38\u88ab\u89c6\u4e3a\u7ecf\u6d4e\u7684\u4e0d\u7965\u4e4b\u5146\u3002\u6536\u76ca\u7387\u4e0b\u964d\u901a\u5e38\u610f\u5473\u8457\u6295\u8d44\u8005\u6d8c\u5411\u907f\u9669\u8d44\u4ea7\uff0c\u4e0e\u4e4b\u540c\u65f6\u51fa\u73b0\u7684\u662f\u5bf9\u7ecf\u6d4e\u589e\u957f\u548c\u901a\u80c0\u653e\u7f13\u4ee5\u53ca\u7f8e\u8054\u50a8\u964d\u606f\u7684\u9884\u671f\u3002<\/p>\n
\u5e76\u975e\u6240\u6709\u6295\u8d44\u8005\u90fd\u76f8\u4fe1\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u4e00\u5b9a\u4f1a\u8fdb\u4e00\u6b65\u4e0b\u6ed1\uff0c\u8ba4\u4e3a\u6536\u76ca\u7387\u53ef\u80fd\u964d\u4e3a\u8d1f\u503c\u7684\u4eba\u4ecd\u5360\u5c11\u6570\u3002\u5c3d\u7ba1\u7f8e\u56fd\u7ecf\u6d4e\u6700\u8fd1\u6709\u6240\u653e\u7f13\uff0c\u4f46\u4ecd\u9ad8\u4e8e\u6b27\u5143\u533a\u548c\u65e5\u672c\u3002\u4e00\u4e9b\u6295\u8d44\u8005\u8fd8\u8ba4\u4e3a\uff0c\u7ecf\u6d4e\u589e\u957f\u6700\u7ec8\u4f1a\u63a8\u52a8\u901a\u80c0\u4e0a\u5347\uff0c\u5982\u679c\u7f8e\u8054\u50a8\u4e3a\u7ecf\u6d4e\u6ce8\u5165\u989d\u5916\u6d3b\u529b\u7684\u8bdd\u5c31\u66f4\u662f\u5982\u6b64\u3002<\/p>\n
\u65e5\u5174\u8d44\u4ea7\u7ba1\u7406(Nikko Asset Management)\u5168\u7403\u56fa\u5b9a\u6536\u76ca\u4e3b\u7ba1Andre Severino\u8868\u793a\u2236\u201c\u6211\u4eec\u5bf9\u6536\u76ca\u7387\u6c34\u5e73\u6709\u70b9\u56f0\u60d1\uff0c\u5176\u4e2d\u4f3c\u4e4e\u4f53\u73b0\u4e86\u5bf9\u4e16\u754c\u672b\u65e5\u7684\u9884\u671f\u3002\u201d<\/p>\n
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\u4f46\u8d1f\u6536\u76ca\u7387\u5e76\u6ca1\u6709\u7ed9\u8fd9\u4e9b\u7ecf\u6d4e\u4f53\u5e26\u6765\u771f\u6b63\u7684\u590d\u82cf\u3002\u4e0d\u4ec5\u5982\u6b64\uff0c\u8d1f\u6536\u76ca\u7387\u8fd8\u9650\u5236\u4e86\u94f6\u884c\u76c8\u5229\u7684\u80fd\u529b\uff0c\u4f24\u5bb3\u4e86\u50a8\u6237\uff0c\u5e76\u5bf9\u91d1\u878d\u4f53\u7cfb\u9020\u6210\u5a01\u80c1\u3002<\/p>\n
\u767e\u8fbe\u8d44\u4ea7\u7ba1\u7406(Pictet Asset Management)\u5168\u7403\u548c\u5730\u533a\u503a\u5238\u4e3b\u7ba1Andres Sanchez Balcazar\u8868\u793a\uff0c\u4f4e\u6536\u76ca\u7387\u4e0d\u4e00\u5b9a\u4f1a\u5f15\u53d1\u4e0d\u826f\u540e\u679c\uff0c\u4f46\u4e5f\u4e0d\u4f1a\u4ea7\u751f\u5229\u597d\u6548\u5e94\u3002\u6700\u7ec8\uff0c\u4f4e\u6536\u76ca\u7387\u5c06\u7ed9\u793e\u4f1a\u5e26\u6765\u6781\u5927\u538b\u529b\uff0c\u9762\u5bf9\u4e0d\u4f73\u7684\u6295\u8d44\u56de\u62a5\uff0c\u50a8\u6237\u4f1a\u53d1\u73b0\u4ed6\u4eec\u7684\u9000\u4f11\u751f\u6d3b\u5e76\u4e0d\u662f\u4ed6\u4eec\u6240\u671f\u671b\u7684\u90a3\u6837\u3002<\/p>\n
\u5e38\u9a7b\u65e5\u5185\u74e6\u7684Balcazar\u4e00\u76f4\u662f\u8d1f\u6536\u76ca\u7387\u503a\u5238\u7684\u4e70\u5bb6\u3002\u4ed6\u8868\u793a\uff0c\u53ea\u8981\u6536\u76ca\u7387\u9ad8\u4e8e\u592e\u884c\u63d0\u4f9b\u7684\u8d1f\u5229\u7387\uff0c\u6295\u8d44\u8fd9\u7c7b\u503a\u5238\u5c31\u662f\u6709\u9053\u7406\u7684\u3002\u5c3d\u7ba1\u5bf9\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u662f\u5426\u5c06\u8dcc\u81f3\u96f6\u4ee5\u4e0b\u6301\u6000\u7591\u6001\u5ea6\uff0c\u4f46Balcazar\u8868\u793a\uff0c\u5982\u679c\u7ecf\u6d4e\u5f62\u52bf\u6076\u5316\u4e14\u7f8e\u8054\u50a8\u91cd\u542f\u5371\u673a\u540e\u7684\u8d2d\u503a\u8ba1\u5212\uff0c\u90a3\u9ebd\u6536\u76ca\u7387\u6c34\u5e73\u53ef\u80fd\u4f1a\u8fdb\u4e00\u6b65\u5411\u96f6\u9760\u62e2\u3002<\/p>\n
\u5bf9\u4e8e\u8fc7\u53bb\u5341\u5e74\u53d1\u8fbe\u56fd\u5bb6\u7ecf\u6d4e\u589e\u957f\u5982\u6b64\u7f13\u6162\u7684\u539f\u56e0\uff0c\u6295\u8d44\u8005\u3001\u5206\u6790\u5e08\u548c\u7ecf\u6d4e\u5b66\u5bb6\u63d0\u51fa\u4e86\u5404\u79cd\u5404\u6837\u7684\u89e3\u91ca\u3002\u5176\u4e2d\u5305\u62ec\u653f\u5e9c\u548c\u4f01\u4e1a\u6240\u6301\u6709\u7684\u5386\u53f2\u6027\u7684\u503a\u52a1\u6c34\u5e73\uff0c\u4e00\u4e9b\u4eba\u8ba4\u4e3a\u503a\u52a1\u6c34\u5e73\u9650\u5236\u4e86\u6295\u8d44\u89c4\u6a21\u3002<\/p>\n
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