这篇报告的主要观点是多数投资人并不是直接购买股票，而是将钱交给共同基金管理人管理。
The paper’s main insight is that most investors do not buy stocks directly, but give their money to fund managers.
这篇报告的主要观点是多数投资人并不是直接购买股票，而是将钱交给共同基金管理人管理。
The paper's main insight is that most investors do not buy stocks directly, but give their money to fund managers.
客户都认为自己选了最好的共同基金管理人；价值投资人在尽量避免定价过高的股票；那些增长型基金管理人在尽其职责。
The clients thought they were picking the best fund managers; the value investors were avoiding overpriced stocks; the growth managers were doing what they were paid to do.
在我的要求之下，Lipper查看了积极管理型和被动管理型新兴市场基金的回报率，然后发现指数轻松地就把基金管理人打败。
At my request, Lipper looked at the returns of actively and passively managed emerging market funds and found that the indexes are handily beating the managers.
一般来说，不喜欢这种公司管理方式的基金管理人能够避开这样的公司。
Fund managers who don't like the way a company is managed can in principle steer clear of it.
加百利资产管理机构的基金管理人劳伦斯·哈佛迪说：“现在的迪斯尼充满了创造力，没有任何一家大型传媒公司可以与之相比。”
"Disney's creative momentum is so strong now that there's no comparison between it and other big media companies," says Lawrence Haverty, a fund manager at Gabelli Asset Management.
基金管理人、基金托管人因基金财产的管理、运用或者其他情形而取得的财产和收益，归入基金财产。
The property and benefits obtained by the fund manager and fund trustee as a result of the management, utilization or any other use of the fund shall be included into the fund property.
基金资产之表现主要取决于管理人之管理小组之能力。
The performance of the Fund Assets is significantly dependent upon the capabilities of the management team of the manager.
在基金管理费的问题上，基金管理人与基金持有人之间存在严重的利益冲突。
On the problem of the fund management fee, there is seriously benefits conflict between the fund administrator and fund holder.
管理合同是指基金与管理人之间签署的、与本合同附件I中所载格式基本相同的合同。
Management agreement means the agreement between the Fund and the Manager, in substantially the form attached as Exhibit I to the agreement.
房地产投资信托制度的基本性质是信托，投资人不直接参与基金财产的经营，而是由基金管理人对基金进行经营管理。
The investor doesn't attach themselves to the management of the fund assets directly. But the fund managers operate and manage the fund assets.
在信息不对称条件下，任何加大基金管理人违约成本和减少信息不对称的措施都有助于减少基金管理人的违规行为。
Under the circumstance of information asymmetric, any increase cost of breaking a contract and reduce information asymmetric will cut down fund manager' s mis-conduct.
委托代理理论认为合适的管理费设计将激励基金管理人努力工作从而使自己和基金投资人的利益最大化。
Principal-agent theory argues that the appropriate management fees structure can encourage fund managers to work hard to maximize their and fund investors'benefits.
第十二条基金管理人由依法设立的基金管理公司担任。
Article 12 fund managers shall be assumed by the fund management companies established according to law.
第十二条基金管理人由依法设立的基金管理公司担任。
Article 12 a fund manager shall be a fund management company established in accordance with law.
第十二条基金管理人由依法设立的基金管理公司担任。
Article 12 a fund manager shall be a fund management company established in accordance with law.
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