因为没有外部投资
Because there is no external investment
以上为机器翻译结果，长、整句建议使用 人工翻译 。
一些投资者表示，马多夫在担任受托资产保管人的情况下并没有任命外部管理人，因为他所经营的是一家经纪商，而非一只正式的对冲基金。
Mr Madoff acted as custodian of assets that were placed with him and had no external administrator because he ran a brokerage, rather than a formal hedge fund, several investors say.
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