链剥挂将发多大是 高级商务英语阅读 company,for $50 each.We still have a per share value in WFHSF of $10.00,because the total assets of the fund are still worth $100(2 shares of Amalgamated at $50.00 each),and there are still ten shares of the fund outstanding.However,from this point on,the share value in the Fund will vary,and will no longer be arbitrary.Federal regulations require a daily re-valuation process,called marking-to-market,of all open-end mutual funds.Marking to market refers to adjusting the per-share price of the fund to reflect changes in the Fund's portfolio,or asset,value.In this way. investors know the true value of their investments on a daily basis,and as new investors buy into, and sell out of,the Fund,everyone gets a fair shake.With that in mind,let's see how the fluctuations in daily share prices occur,as we continue to follow the fortunes of the We Fly Higher Stock Fund. On day three,mercury contamination (resulting from improper disposal of chip-manufacturing by-products)is found in Amalgamated's fish,and the bad news spreads rapidly.Fearing the worst, investors flock to sell Amalgamated shares,and the price of its stock plunges 50%,from $50 to $25 per share.Of course,back at the Fund,the assets have declined,too,because the Fund's assets are entirely in Amalgamated stock.The two shares the Fund holds have declined to $25 per share, as noted,and now are worth a sum total of $50.The accounting department at the Fund calculates the new value per share of the Fund by adding up all the assets,now $50.00,and dividing by ten (the number of shares outstanding),and note that each share of the Fund is now worth only $5.00. This is called the net asset value(per share is implied). 4)Fund Objectives And the Prospectus We have learned that mutual funds are investment companies,and that they may invest in securities of various kinds,such as stocks and bonds.Money market mutual funds,which constitute a major portion of the fund universe,invest only in very short-term bonds.A fund's objective,described in the prospectus,gives broad indications of the types of investments a fund may make.The prospectus discloses important specific details about the fund that the prospective investor should be aware of,including allowable investments,expenses,risks,and financial statements.Therefore,investors should always read the prospectus carefully before investing or sending money! 第3页共10页高级商务英语阅读 company, for $50 each. We still have a per share value in WFHSF of $10.00, because the total assets of the fund are still worth $100 (2 shares of Amalgamated at $50.00 each), and there are still ten shares of the fund outstanding. However, from this point on, the share value in the Fund will vary, and will no longer be arbitrary. Federal regulations require a daily re-valuation process, called marking-to-market, of all open-end mutual funds. Marking to market refers to adjusting the per-share price of the fund to reflect changes in the Fund's portfolio, or asset, value. In this way, investors know the true value of their investments on a daily basis, and as new investors buy into, and sell out of, the Fund, everyone gets a fair shake. With that in mind, let's see how the fluctuations in daily share prices occur, as we continue to follow the fortunes of the We Fly Higher Stock Fund. On day three, mercury contamination (resulting from improper disposal of chip-manufacturing by-products) is found in Amalgamated's fish, and the bad news spreads rapidly. Fearing the worst, investors flock to sell Amalgamated shares, and the price of its stock plunges 50%, from $50 to $25 per share. Of course, back at the Fund, the assets have declined, too, because the Fund's assets are entirely in Amalgamated stock. The two shares the Fund holds have declined to $25 per share, as noted, and now are worth a sum total of $50. The accounting department at the Fund calculates the new value per share of the Fund by adding up all the assets, now $50.00, and dividing by ten (the number of shares outstanding), and note that each share of the Fund is now worth only $5.00. This is called the net asset value (per share is implied). 4) Fund Objectives And the Prospectus We have learned that mutual funds are investment companies, and that they may invest in securities of various kinds, such as stocks and bonds. Money market mutual funds, which constitute a major portion of the fund universe, invest only in very short-term bonds. A fund's objective, described in the prospectus, gives broad indications of the types of investments a fund may make. The prospectus discloses important specific details about the fund that the prospective investor should be aware of, including allowable investments, expenses, risks, and financial statements. Therefore, investors should always read the prospectus carefully before investing or sending money! 第 3 页 共 10 页