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嘉兴在线新闻网     2018-05-23     手机看新闻    我要投稿     飞信报料有奖

2016年马会二句中特诗,香港昨晚开什么,四肖期期准www.877688,最准至尊红颜六台高手坛开奖,4850六合彩六肖l中特一码,澳门葡京线上娱乐网站,日月谷心水主论坛,老是中奖

  

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  股份有限公司ZhenLou

  Investmentscopecoversglobalmajormarkets;overseasglobalmacro-strategyfundscontinuetogrow:Theglobalmacrostrategycanbedefinedas:Inordertoprofitfromthemacroeconomictrend,thefundmanagerconductedleveragedlong/shorttransactionsandallocations,throughanyassettypes(stocks,bonds,currencies,commodities,etc.),anyleveragedinstruments(cash,derivatives,etc.),and/oranymarketsacrosstheglobe.Globalmacrostrategyhasthefollowingfourfeatures,includingbroadinvestmentscope,top-downmacroresearch,mostlydirectionalinvestment,andleverageusage.Thetwomajoradvantagesofglobalmacrostrategyare:greatinvestmentflexibilityandlowcorrelationwiththestock&bondmarket.However,italsohastheinherentdisadvantageofhighrisk.AccordingtoHFR’sstatistics,thescaleofoverseasglobalmacrofundscontinuedtogrowanditsproportionasofoverseashedgefundincreasedfrom12%tenyearsagotorecent22%becauseofsolidpastperformance.

  Limitationoninvestmentscopeandstrategiesmakesdomesticmacro-strategyfundsuniquelycharming.Currently,onlythreetypicaldomesticmacro-strategyfundshavelonghistoricaltrackrecords,includingZenNo.1managedbyShanghaiZenInvestmentManagementCo.,Ltd.,HonghuZhongyumanagedbyShanghaiHonghuInvestmentManagementCo.,Ltd.,andYingChongNo.1managedbyJuniorChinaCapitals.Overall,domesticmacro-strategyfundsaresimilartooverseasmacro-strategyfundsexcepttwodistinctivelydifferentaspects:1)theinvestmentscopefordomesticonesonlyincludedomesticstocks,bonds,commodityfuturesandstockindexfutures,and2)constraintbylimiteddomesticderivativeinstruments,domesticmacro-strategyfundsfacemanyrestrictionsoninvestmentstrategies.Domesticmacro-strategyfundsalladopttheformatoflimitedpartnershipbecausetheopen-endedprivate-placementsunshinefundsinChinaarenotallowedtoinvestmentincommodityfutures.Meanwhile,domesticmacro-strategyfundsshowsimilarrisk-returnfeaturewithoverseasspecies,i.e.highreturn&highrisk,lowcorrelationwithstockperformance.However,consideringshorthistoricaltrackrecordsthatdomesticmacro-strategyfundspresents,itremainstoseetheirmanagementcapabilitiesandrisk/returnfeature.

  Macro-strategyfundshavebroadprospectandareexpectedtobeoneofimportantallocationsforfundportfolios.Domesticmacro-strategyfundsareinthebeginningstagecomparedwiththeoverseas’.Judgingfromthescaleof22%thatoverseasmacro-strategyfundsgarnered,andfurtherdevelopmentofderivativeinstrumentsandopeningupofoverseasinvestmentopportunitiesinChina,webelievethatdomesticmacro-strategyfundshaveamplespacetodevelop.Also,withthedomesticinstitutionalinvestorsgettingmatured,theirinvestmenttechniqueswillgraduallyimproveaswell,whichinturnhelpdomesticmacro-strategyfundstobeanimportantoptionforthedomesticfund’sallocationbecauseoftheirhighreturnandlowcorrelationwithstocks.

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2016年马会二句中特诗,香港昨晚开什么,四肖期期准www.877688,最准至尊红颜六台高手坛开奖,4850六合彩六肖l中特一码,澳门葡京线上娱乐网站,日月谷心水主论坛,老是中奖.