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In 2007, with the accelerated amplification of the calibration of the fund, the armamentarium industry, economies of calibration issues are raised. In a lot of developed U.S. armamentarium industry, the industry advance the "Curse of the scale," a $ 1 billion armamentarium to buy shares if there are quantitative restrictions, its best can accept 1850 companies. But if the armamentarium admeasurement to 20 billion, best can be bargain to 180 shares. 20 times the calibration of growth, disinterestedness investments narrowed to 10 times abate funds can be added adaptability in allotment stocks, but if the money to a assertive size, beneath and beneath stocks selectable range, attached the investment accommodation and performance.

2007年，随着基金规模的迅速扩大，基金业规模经济的问题被提出。在基金业最发达的美国，业内流传着”规模的诅咒”，一只10亿美元的基金如果有股票的买入数量限制，它的选择余地可以有1850家公司。但是当基金规模到200亿，则可选择余地降低到180只股票。规模增长20倍，股票投资范围缩小10倍，小资金可以更灵活性选择股票，但是当资金到一定规模后，可选择的股票范围越来越少，限制了投资能力和业绩。

About the armamentarium industry economies of calibration issue, studies accept activate that although the boilerplate amount of funds with accretion admeasurement of the armamentarium assets decreased, but the admeasurement of the asset exceeds a assertive threshold, the bottomward trend is no best evident, according to the U.S. armamentarium bazaar The empiric results, the admeasurement of a individual armamentarium assets of over 10 billion U.S. dollars, the boilerplate operating costs began bottomward again. In fact, for the armamentarium industry, demography into annual a array of achievement factors, the accord amid armamentarium admeasurement and amount of acquirement to be added complicated than just accretion allotment to scale, connected cutback can be abbreviated in three stages.

关于基金业规模经济的问题，有研究发现，虽然基金平均成本随基金资产规模的增大而逐渐减少，但当资产规模超过一定阀值后，下降的趋势就不再明显，根据美国基金市场的实证结果，单只基金资产规模超过100亿美元后，平均运营费用开始不再下降。其实对于基金业而言，考虑到多种绩效因素，基金规模与成本收益之间的关系要更为复杂，并不是规模收益递增、不变、递减三个阶段所能简单概括的。

Economies of calibration is a complete ambiguous concept, accepted economics, if companies with the amplification of assembly calibration of enterprises and advance the admeasurement of the assorted factors of assembly exceeds the arrangement of investment to advance if there is economies of scale, assembly adeptness is alone about accepted calibration can be interpreted as the use of added avant-garde accessories and technology, and there is no austere algebraic proof. Xiaokai bend band-aid appliance ultra-marginal assay adjustment to break the abiding bread-and-butter theorists' annual will be the analysis of algebraic announcement "the problem, and actualize and advance a new classical access of division. According to his theory, economies of calibration is the year if Marshall approved to use algebraic models to explain the access of classical economics, the allowances of specialization, accountable to the mathematics abaft the adjustment was abandoned, but the abstraction is alien in adjustment to facilitate elaborate, but it obscures the aspect of the abstraction abaft due to calibration and specialization to strengthen the advance of added productivity.

The use of the armamentarium industry specialization access to assay the armamentarium industry's final artefact is a specialized banking casework for investors, the 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。