（三）部分基金式(Partially Funded System) 是指根据分阶段收支平衡的原则，确定收费率，在满足一定时期支出需要的前提下，留有一定的储备基金，据以确定收费率。
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对冲基金行政管理服务是一个正在蓬勃发展的作坊式行业的组成部分，目的是增加基金对投资者的透明度。
Hedge fund administration is part of a burgeoning cottage industry that attempts to make funds more transparent to investors.
自从智利在1981年引进了全基金式的、由私营部门管理的固定缴费方案之后，二十多个国家已经把它们的部分养老金方案转变为这种方案。
Since Chile introduced a fully funded, privately managed defined contribution scheme in 1981, some two dozens countries have converted a portion of their pension system to this arrangement.
更为糟糕的是，在这个月，债券市场中两个很少引起关注但是很重要的部分崩溃了，并且人们担心下一个可能是封闭式市政债券基金。
Worse, two little-noticed but important bits of the market have imploded this month, and there are fears for a third, known as closed-end municipal-bond funds.
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