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。
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.
作为对持续下跌的市场的额外预防措施，Narayanan建议建立“安全系数”：一个超过最低预期资本回收率3% - 5%的溢价。
As an extra precaution against an ongoing down market, Narayanan suggests building in a "margin of safety" : a 3 to 5 percent premium over the target hurdle rate.
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