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面对复杂多变的全球资本市场,投资者需要根据经济周期,市场波动、外部基金经理业绩等因素,定期或不定期地对现有投资组合进行调整。在调整的过程中,投资组合内全部或部分资产被转换为其他资产,或从一个基金经理转到另一个基金经理;这个过程被称为资产转持。表面上看是这只是一个简单的卖出现有资产,买入目标资产的过程。但随着资产配置多元化和信托责任转移,投资组合的重组和基金的转换变得越来越频繁和复杂。市
In the face of complex and ever-changing global capital markets, investors need to make regular or irregular adjustments to existing portfolios based on such factors as economic cycles, market volatility and external fund managers’ performance. In the process of adjustment, all or part of the assets in the portfolio are converted into other assets or transferred from one fund manager to another; this process is called asset transfer. On the surface this is just a simple process of selling existing assets and buying the target assets. However, with the diversification of asset allocation and transfer of trust responsibilities, the restructuring of portfolios and the conversion of funds become more and more frequent and complex. city