笔译二级实务（综合）模拟试卷64
必做题
1. Asset management refers to the management of investments on behalf of others. The process essentially has a dual mandate—appreciation of a client’s assets over time while mitigating risk. There are investment minimums, which means that this service is generally available to high net-worth individuals, government entities, corporations and financial intermediaries. The role of an asset manager consists of determining what investments to make, or avoid, that will grow a client’s portfolio. Rigorous research is conducted utilizing both macro and micro analytical tools. This includes statistical analysis of the prevailing market trends, interviews with company officials, and anything else that would aid in achieving the stated goal of client asset appreciation. Most commonly, the advisor will invest in products such as equity, fixed income, real estate, commodities, alternative investments and mutual funds.
Accounts held by financial institutions often include check writing privileges, credit cards, debit cards, margin loans, the automatic sweep of cash balances into a money market fund and brokerage services. When individuals deposit money into the account, it is typically placed into a money market fund that offers a greater return that can be found in regular savings and checking accounts. The added benefit to account holders is all of their banking and investing needs can be serviced by the same institution rather than having separate brokerage account and banking options.
Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. AUM definitions and formulas vary by company. In the calculation of AUM, some financial institutions include bank deposits, mutual funds, and cash in their calculations. Others limit it to funds under discretionary management, where the investor assigns authority to the company to trade on his behalf. Overall, AUM is only one aspect used in evaluating a company or investment. It is also usually considered in conjunction with management performance and management experience. However, generally, investors can consider higher investment inflows and higher AUM comparisons as a positive indicator of quality and management experience.
Wealth management is an investment advisory service that combines other financial services to address the needs of affluent clients. It is a consultative process whereby the advisor gleans information about the client’s wants and tailors a bespoke strategy utilizing appropriate financial products and services. Wealth management is more than just investment advice, as it can encompass all parts of a person’s financial life.
While the use of a wealth manager is based on the theory that it can provide services in any aspect of the financial field, some choose to specialize in particular areas. This may be based on the expertise of the wealth manager in question, or the primary focus of the business within which the wealth manager operates. In certain instances, a wealth management advisor may have to coordinate input from outside financial experts as well as the client’s own agents (attorney, accountants, etc.) to craft out the optimal strategy to benefit the client. Some wealth managers also provide banking services or advice on philanthropic activities. A wealth management advisor needs
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