Jim McDonald, who runs taxable money market funds for T Rowe Price, said: You can't make money in this situation.

Specifically, money market funds should be required to have floating net asset values, and the 2005 change in repo bankruptcy rules that exempted mortgage-related assets from an automatic stay would be reversed.

具体地说，应要求货币市场基金采取浮动资产净值；2005年对破产法中有关回购协议规定的更改按揭相关资产不受“自动冻结（automatic stay）”条款约束将被逆转。

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The US Treasury estimates that 105 money market funds with total assets of$ 1tn could fail in the same way as reserve primary if any of their top 20 counterparties defaulted.

据美国财政部估计，105家货币市场基金的资产总规模达1万亿美元，一旦其最大20个交易对手中的任何一个违约，这些基金都有可能像reserve primary一样崩溃。

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Alibaba's fund company Yu'e Bao is China's biggest online money market fund, with Rmb574bn ($ 93.8bn) worth of assets

阿里巴巴的基金公司余额宝（Yu’e Bao）是中国最大的在线货币市场基金，资产总值达到5740亿元人民币（合938亿美元）。

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About three-quarters of the assets under management at federated investors ( FII) are in money market funds.

Federated Investors管理的资产约有3/4是货币市场基金。

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Through affiliate Ant Financial it already operates China's largest money market fund, with assets of more than$ 80bn.

在此之前，它已然通过关联企业蚂蚁金服（Ant Financial）经营着中国最大的货币市场基金，管理资产规模超过800亿美元。

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It compares MMF with comparable financial instruments to find out its characteristics of yield, risk and liquidity.

在特征验证部分，研究了货币市场基金与其它可比金融产品收益性、风险性、流动性的差异，在验证准储蓄特征的同时也为投资者提供了备选资产。

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Strategical Research in Path Selection of Chinese MMF

中国货币市场基金的路径选择策略研究

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There has been an upsurge in securities investment funds, which mainly consists in investment in stock funds and mixed open-ended funds.

我国当前出现了一股进行证券投资基金投资的热潮，这股热潮主要是投资于股票型和混合型开放式基金。

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The results of the empirical analysis indicate that the yields of the stock funds and mixed open-ended funds are better than the market average. Fund managers show fairly good performance in their stock selectivity, but obvious weakness in market-timing.

实证分析结果显示，我国股票型和混合型基金的收益都超过了市场基准的收益，基金经理基本上都具备较强的选股能力，但是不具备明显的时机选择能力。

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At the same time from the empirical results found that the performance of bond funds than in equity and hybrid funds better, which can be debt hedge funds have better features to explain.

同时可以从实证结果中发现，债券型基金的表现比股票型和混合型基金更好，这可以用债权型基金具有更好的避险特性来解释。

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A successful launch could also pave the way for Chinese equities to be added to global indices, potentially drawing hundreds of billions of dollars into mainland markets.

沪港通若能成功投入运行，还可能为中国股票被纳入全球指数铺平道路，这有可能会吸引数千亿美元流入内地市场。

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Many have mandates that prevent them from investing into the Chinese mainland, so they must redraft these rules before they can start buying through Stock Connect.

很多资产管理公司的业务授权使他们无法在中国内地投资，因此他们必须先修改这些授权规则，才能开始通过沪港通购买股票。

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Those uncertainties prompted Asia's financial markets industry body, Asifma, to write to regulators to plea for sufficient notice ahead of the formal launch.

这些不确定性促使亚洲证券业与金融市场协会（ASIFMA）致函相关监管机构，要求在沪港通正式启动前给予充分通知。

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Rising exposure to onshore bonds has been partly enabled by the Shanghai-Hong Kong Stock Connect, a cross-border share trading scheme that bypasses existing quota systems.

在岸债券可获得性的不断提升，部分缘于沪港通的开通，这一跨境股票交易机制绕过了现行的两个配额体系。

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There has been a rush to align systems, capture clients, clarify rules, navigate long-running tax disputes and resolve legal conundrums before the launch.

沪港通启动之前，各方一直忙着对接系统、争取客户、澄清规则、厘清长久以来的税收争议，以及解决法律难题。

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The new Shanghai-Hong Kong Connect programme, which allows investors to buy some A-shares via Hong Kong, will address some of the access issues.

新启动的沪港通机制允许投资者经由香港购买部分A股，这将在一定程度上解决进入市场的渠道问题。

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International investors also have been reallocating funds to the Hong Kong market, as shown by net selling of Shanghai equities through the Stock Connect.

通过经沪港通交易的沪市股票的净销售情况，可以看到国际投资者也一直在将资金撤回香港市场。

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The Stock Connect a cross-border share trading link has given foreign investors access to hundreds of Shanghai-listed stocks without the need for a licence.

作为跨境股票交易链接，沪港通使境外投资者能够在不需要申请许可的情况下，买卖数百只上海上市的股票。

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We as an industry are strong supporters of the stock connect project and are very committed to having a successful launch, he added.

他接着说道：作为一个行业，我们强烈支持沪港通项目，并致力于该项目的成功启动。

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The Stock Connect is a cross-border trading programme that has given overseas funds free access to mainland-listed companies for the first time.

沪港通是一个跨境交易项目，第一次允许海外资金直接买入中国内地上市公司股票。

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