Even if equity returns were disappointing, pensions still had to be paid.
就算股票投资收益不尽人意，也仍然要按原定计划发放养老金。
While the Yen has appreciated significantly this year with the unwinding of the carry trade, equity returns have remained disappointing due to the weak growth outlook.
尽管由于套利交易解体，今年日元大幅度升值，股市回报却仍旧让人失望，这主要是由于经济增长前景暗淡。
Nevertheless, given inflationary conditions, many corporations seem sure in the future to turn to still more leverage as a means of shoring up equity returns.
即便如此，在通胀条件下，将来很多企业看起来肯定会利用更高的债务杠杆来提高资本回报率。
To set rate of equity returns is a critical step for long-term investment decisions, but in a realistic irrational world, its not easy to do that using CAPM familiar in standard financial theory.
确定股权回报率是进行长期投资决策的关键步骤，但在现实非理性世界中难以直接运用传统财务理论所推荐的资本资产定价模型来确定股权回报率。
Equity returns have been disappointing, and the fees earned by fund managers look harder to justify as a result.
股市回报让人失望，因此基金经理的收费也看起来不那么合理。
Equity returns have been disappointing, and the fees earned by fund managers look harder to justify as a result.
股市回报让人失望，因此基金经理的收费也看起来不那么合理。
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