-
Chapter
11
Mutual Funds
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E
x
er
c
is
e
s
Ⅰ、
Answer the
following questions in English
.
1. What is NOT an advantage of a mutual
fund?
A. Instant Diversification.
B. Easy to Use.
C. You
can easily make monthly contributions.
D. You are guaranteed to double your money in 5
years.
2.
If
you
were
looking
to
invest
in
a
specific
country
or
region,
which
mutual fund would be best suited for you?
A. Global Fund
B. Regional Fund
C. Growth Fund
D. Socially Responsible Fund
E. Green Fund
3.
What
is
the
difference
between
a
front
end
and
back
end
load?
A.
Front-end
funds
charge
a
fee
if
the
fund
is
redeemed
early,
back-end
funds don 't.
B. Front-end funds don't charge a
fee, back-end funds do.
C.
Front-end
funds
charge
a
fee
when
you
buy
the
fund,
back-
end
funds
charge the fee at
redemption.
D. None of the above.
percent do most
mutual funds have
administration fees?
A. 0%
B. 0.5%--2.5%
C. 3% -- 5%
D. 6%
-- 10%
5. Buying a mutual fund based on past
performance is a good
strategy.
A.
True.
.
B. False.
Ⅱ、
Fill in the
each blank with an appropriate word or
expression
.
1. There are,
however,
many different types of equity
funds
because there are many different
types of equities.
2. The idea of
pooling resources and spreading risk
using
closed-end investments soon took
root in Great Britain and
France,
making
its way to the United States in the
1890s.
3.
What
was
once
just
another
obscure
financial
instrument
is
now
a part of our daily lives.
4.
Income
is
earned
from
dividends
on
stocks
and
interest
on
bonds. A fund pays out nearly all
income it receives over the
year to
fund owners in the form of a distribution.
5. If the fund sells securities that
have increased in
price, the fund has
a
capital .
Most
funds
also
pass on
these
gains to investor in a distribution.
6. There are many, many types of
mutual funds.
You can
clas
sify funds based on
asserts class
investing strategy,
regi
on, etc.
Ⅲ、
Translate the following
sentences into English
.
1
．基金集合了一部分委托人的资金，并代表他们的利益进行有预设
目的的投资。每个基金公司都会雇佣投资专业人士来管理基金的投
资
组合，通常称他们为投资组合管理者。
A mutual
fund is a professionally managed type of
collective
investment scheme that
pools money from many investors and invests
it in stocks, bonds, short-term money
market instruments, and/or
other fund
company will hire investment
professionals
to manage the Fund's
investment portfolio, usually called their
portfolio managers.
2
．共同基金的投资组合常在变动。例如，货币市场共同基金的投资
组合平均持有
时间一般不超过
3
个月；一些股票基金在
1
年内保持稳
定的投资组合；另一些股票基金却变换频繁。<
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Portfolio
of
mutual
funds
often
example,
the
average
holding
time of a portfolio
of money market mutual funds are generally not
more
than three months; some equity
funds in one year to maintain a stable
investment portfolio; and frequent
changes in some other stock funds.
3
．开放式基金是世界各国基金运作的基本形式之一。基金管理公司
可随
时向投资者发售新的基金单位，也须随时应投资者的要求买回
其持有的基金单位。
Open-end fund is one of the
basic form of operation of the Fund of the
fund
management
company
may
at
any
time
offered
to
the
investors
new fund units must be ready to request
of investors to buy back its
holdings
of the fund units.
4
．
目前，
开放式基金已成为国际基金市场的主流品种，
相
对于封闭式
基金，
开放式基金在激励约束机制、
流动性、
透明度和投资便利程度
等方面都具有较大的优
势。
At
present,
the
open-end
fund
has
become
the
mainstream
varieties
of
the
international
fund
market,
as
opposed
to
closed-end
funds,
open-end
funds
in
the incentive and restraint mechanisms, liquidity,
transparency and
investment
facilitation, the degree has more advantages.
5
．
封闭式基金是指基金的发起人在设立基金时
，
事先确定发行总额，
筹集到这个总额的
80
％以上时，
基金即宣告成立，并进行封闭，在封
闭期内不再接受新的投资。
Closed-
end
fund
is
a
fund
promoters
in
setting
up
the
fund,
determine
in
advance
the
total
issue
amount
to
raise
more
than
80%
of
this
total,
the
fund
was
set
up
and
closed
to
no
longer
accept
new
investment
in
a
closed
period.
6<
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．
开放式基金是指基金发行总额不固定，
基金单位总数随时增减，
投