管理人

Furthermore, the maximum likelihood method is introduced to estimate relevant parameters with a chi-square test done for the goodness of fit of the model used.

第三章研究了可能引起流动性风险的基金管理人的投资行为，并对因巨额赎回而引起的流动性风险问题进行了预测。

A Luxembourg judge has frozen some assets held by UBS for Luxalpha, one of the principle European investment funds that gave money to US money manager Bernie Madoff, said a lawyer in the Grand Duchy yesterday.

一名卢森堡律师昨日透露，该大公国内的一位法官已下令冻结了瑞士银行集团为Luxalpha管理的部分资产。Luxalpha是向美国资金管理人伯纳德·马多夫提供资金的主要欧洲投资基金之一。

Greenkeeper The employee of the club who is responsible for the maintenance of the course.

高尔夫球场管理人：负责维护球场的俱乐部雇员。

In case of dispute,the group manager can reveal the identity of actual signer.

在有争议的情况下，群管理人可以确定签名人的身份。

The vast land of China has a group of professional insurance administrator of the contingent.

中国大地保险拥有一批专业的管理人队伍。

No one seems to know and care about what the hedge funds are doing, but they are allowed, almost, to do anything! It is therefore important to protect the integrity of the global financial markets by putting in place a framework whereby short term capital and the operation of the hedge funds may go by some rules of the game, and at the same time, the short term capital flow can be allowed to move freely.

似乎没有人知道，也没有人理会，对冲基金管理人在做甚麽，但他们几乎可以随所欲为，因此，为了维护国际金融市场的完整性，订立一套机制，让短期资金和对冲基金的运作有一些游戏规则作为依据，而短期资金又可同时自由流动，是非常重要的。

Helene: Thanks to you making an appearance here from time to time, and our manager also working as the security detail, any suspicious people are certain to be quickly spotted.

海伦：谢谢你时常来这里，我们的管理人也会为安全细节努力工作。可疑的人肯定会被很快发现的。

When the duties and responsibilities of the trustee end, its heritor or the manager of the decedent's property, the guardian or the liquidator shall keep the trust property appropriately and assist the new trustee to take over the trust affairs.

受托人职责终止时，其继承人或者遗产管理人、监护人、清算人应当妥善保管信托财产，协助新受托人接管信托事务。

This paper analyses the homogenous tendency of open-end fund at first,pointing out that unperfect development of market and investors' immature investment opinions is the origin of such phenomena. Secondly,having compared the fund sizes and purchase fee rates of 25 open-end funds in China,conclude that there are problems of diseconomy of scale and indistinctive relativity between fees and achievement in Chinese open-end funds. Then this paper introduces benefit and cost function to analyze the problem of lack of motivation and constrain mechanism towards fund managers because of unreasonable fees in China. Thirdly,this paper analyze funds managers' normal hazards by static game model,and then points out fund managers have serious tunneling behaviors in Chinese open-end fund industry. In the end,this paper analyzes the causes of liquidity risk of open-end fun and the particularity of liquidity risk of open-end fund in China,and concludes that liquidity risk in Chinese open-end fund industry is higher through calculating the rates of share change and comparing the portfolio selections of top 20 open-end funds in China.

本文首先分析了我国目前存在的基金产品同质化现象，指出市场发展的不完善以及投资者投资理念的不成熟是同质化的根源所在；其次对比了我国现有的25只开放式基金的规模和申购费率，得出了我国开放式基金存在着规模效应不明显以及基金业绩与费率相关性不强的问题，并引入效益函数和成本函数分析了由于我国开放式基金费率不合理引发的基金管理者激励约束机制缺失的问题；再次，应用静态博弈模型分析了基金管理人面临的道德风险，指出目前我国开放式基金由于监管机制脆弱而存在着较为严重的管理者利益输送行为；最后，分析了开放式基金流动性风险的形成原因以及我国基金市场流动性风险的特殊性，并通过计算目前我国基金资产规模前20位的开放式基金的份额变动率以及比较它们的投资组合结构，得出了目前我国开放式基金流动性风险偏大的结论。

The intervener may conclude legal transactions or perform other juridical acts as a representative of the principal in so far as this may reasonably be expected to benefit the principal.

在可以合理地被期待有利于本人的范围内，管理人得作为本人的代理人为法律交易或者其他法律行为。

However, as the name（read－only memory）implies, CD disks cannot be written onorchanged in any way.

然而，正如其名字所指出的那样，CD盘不能写，也不能用任何方式改变其内容。

Galvanizes steel pallet is mainly export which suits standard packing of European Union, the North America. galvanizes steel pallet is suitable to heavy rack. Pallet surface can design plate type, corrugated and the gap form, satisfies the different requirements.

镀锌钢托盘多用于出口，替代木托盘，免薰蒸，符合欧盟、北美各国对出口货物包装材料的法令要求；喷涂钢托盘适用于重载上货架之用，托盘表面根据需要制作成平板状、波纹状及间隔形式，满足不同的使用要求。