碰男华经海贸多大学 高级商务英语阅读 C.For this reason,index funds generally have lower expenses than actively-managed funds,and typically incur fewer capital gains which must be passed on to shareholders. D.The most common are cash,stock,and bonds,but there are hundreds of sub-categories. E.Most mutual funds are open-end funds. F.These restrictions,permissions,and policies are found in the prospectus,which every open-end mutual fund must make available to a potential investor before accepting his or her money. Ill.E-C Translation: 1.The industry rode a decade-long bull market and a booming retirement business so well that it managed a record $7.5 trillion of assets-nearly as much as Europe's annual gross national product-by the end of 2000. 2.SIG Chief Executive Hilda Ochoa-Brillembourg says big brand-name funds are a potential "toxic-waste site"for the baby boomers'retirement hopes."All I see in their future is downside risk and very little upside potential,"she says. 3.Because it trades like a stock whose price fluctuates daily,an ETF does not have its net asset value (NAV)calculated every day like a mutual fund.By owning an ETF,you get the diversification of an index fund as well as the ability to sell short,buy on margin,and purchase as little as one share. IV.Key to Exercises 1.Exercise ll 1E 2D 3F 4C 5A6B 2.Exercise lll 1.由于长达十年的牛市和退休金业务的繁荣，基金行业好不春风得意，到2000年之际，它所掌控 第3页共4页高级商务英语阅读 C. For this reason, index funds generally have lower expenses than actively-managed funds, and typically incur fewer capital gains which must be passed on to shareholders. D. The most common are cash, stock, and bonds, but there are hundreds of sub-categories. E. Most mutual funds are open-end funds. F. These restrictions, permissions, and policies are found in the prospectus, which every open-end mutual fund must make available to a potential investor before accepting his or her money. III. E-C Translation: 1. The industry rode a decade-long bull market and a booming retirement business so well that it managed a record $7.5 trillion of assets – nearly as much as Europe’s annual gross national product – by the end of 2000. 2. SIG Chief Executive Hilda Ochoa-Brillembourg says big brand-name funds are a potential “toxic-waste site” for the baby boomers’ retirement hopes. “All I see in their future is downside risk and very little upside potential,” she says. 3. Because it trades like a stock whose price fluctuates daily, an ETF does not have its net asset value (NAV) calculated every day like a mutual fund. By owning an ETF, you get the diversification of an index fund as well as the ability to sell short, buy on margin, and purchase as little as one share. IV. Key to Exercises 1. Exercise II 1 E 2 D 3 F 4 C 5 A 6 B 2. Exercise III 1. 由于长达十年的牛市和退休金业务的繁荣，基金行业好不春风得意，到 2000 年之际，它所掌控 第 3 页 共 4 页