Not only have their revenues from alternative asset classes such as hedge funds been declining, they also face the prospect of losing retail clients to ETFs.

不仅他们从象对冲基金等备选资产种类的收入已经在下降，而且他们还面临将零售客户输给交易型开放式指数基金的惨淡前景。

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The world's rich continue to shift their money into alternative asset classes, with the proportion of wealth allocated to private equity and hedge funds rising to 20 per cent on average last year.

全球的富人继续把资金转投向另类资产类别。去年，配置在私人股本和对冲基金上的财富比例平均上升到了20%。

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So they started to diversify into "alternative" asset classes that were not correlated with equities yet offered the prospect of hefty returns.

所以他们着手把和股权相关的备用资产形式多样化，但还未产生巨大的利润。

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The book focused on access to alternative asset classes as the primary source of endowment alpha.

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"The diversification offered by many alternative asset classes has been drastically reduced, " Mr. Gambera says.

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Alternative asset classes for the most part still need to be managed in targeted individual funds.

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