One reason is that companies have very high hurdle rates for new projects, higher than seems justified by a world of low interest rates.
原因之一就是公司开展新项目的门槛过高，高过了低利率所允许的范围。
That power gives ABP the ability to place greater emphasis on performance, to control fees and to insist on hurdle rates before paying them.
这种权力给了ABP更强调业绩的能力，控制费用的能力，以及在付款给经理人前坚持最低预期报酬率的能力。
When we sit in business meetings, we stay and talk until we figure out how to increase cash flow, or reduce corporate duplication, or rethink our hurdle rates.
当大家坐下开业务会议时，就会不停地说，不停地辩论，直到在如何提高企业现金流、如何降低工作重复或反思我们的最低回报率等问题上达成共识。
Here's where low interest rates come in: the beneficiary gets all the appreciation minus a tax, known as the hurdle rate, which is tied to current interest rates.
这儿就要提到利率了：受益人可以得到所有的税后增值收益，也称最低预期资本回收率，这个收益率与现行利率相挂钩。
If mortgage rates keep moving lower, it should help some people refinance to avoid foreclosure while spurring sales by lowering the financial hurdle for people to buy homes.
如果抵押贷款率持续走低，这将会帮助一些人重新调整财务以避免无法还贷，同时由于降低了财务门槛也将会刺激整个房产的销售市场。
If mortgage rates keep moving lower, it should help some people refinance to avoid foreclosure while spurring sales by lowering the financial hurdle for people to buy homes.
如果抵押贷款率持续走低，这将会帮助一些人重新调整财务以避免无法还贷，同时由于降低了财务门槛也将会刺激整个房产的销售市场。
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