在这两次事件中，最为暴露的对冲基金不得不快速削减其持仓额。

In each case, the most exposed hedge funds had to cut their positions quickly.

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基金增幅来源于持仓股票的增长。

The increase stems from the growth of the stock positions.

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开放式基金一般参考上证指数，如果看到基金持仓明细，再查看股票的分时走势图就更准确些。

Open-end funds generally refer to the Shanghai index, if you see the fund's holdings details, and then view the stock charts of the time-sharing is even more accurate.

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