| 1. | Covered call funds are still relatively unknown in the uk
备兑买入基金在英国仍不太为人所知。 |
| 2. | The women wear a hair covering called a bonnet , long dresses , and black shoes
女人都戴着一种绑带子的包头软帽，穿连衣裙和黑鞋。 |
| 3. | So , for example , a typical covered call fund might generate an income of around 7 per cent
因此，例如一只典型的备兑买入基金可能产生7 %左右的收益。 |
| 4. | However , there is another type of covered call fund that is protected from falling share prices
不过，目前还有另一种备兑买入基金，可以不受股价下跌的冲击。 |
| 5. | These protected funds have lower risk than other covered call funds , and lower expected returns
这些保护型基金的风险低于其它备兑买入基金，但预期回报率也较低。 |
| 6. | Another dimension to consider if you are looking at covered call funds is their tax implications
如果你打算投资备兑买入基金，那么另一个需要考虑的因素是其税赋。 |
| 7. | For example , suppose a covered call fund holds shares in acme group , which are trading at 100p on april 1
备兑买入基金利用衍生品来降低（而非增加）投资组合的风险。 |
| 8. | The " covered " part of the covered call strategy refers to the fact that the fund already owns shares in the company on which the call option is based
备兑买入策略中的“备兑”是指，该基金已经拥有作为买入期权基础的公司的股票。 |
| 9. | That makes most covered call funds tax - inefficient if your capital gains are below the cgt threshold , which this tax year is ? 8 , 800
如果你的资本利得低于资本利得税起征点（本税收年度是8800英镑） ，那么多数备兑买入基金在计税方面都不太划算。 |
| 10. | The upshot is that covered call funds outperform stock market indices when the market is flat or falling , but underperform when shares are shooting upwards
其结果是，当股市持平或下跌时，备兑买入基金的表现会好于股市指数，但当股价一路上扬时，其表现则落后于股市。 |
