成分股

• The passive managers will be required to track the hang seng index closely , whereas the active managers will be expected to outperform the hang seng index by investing in individual hsi constituent stocks within predefined permissible limits
  被动式投资经理的表现必须紧贴恒生指数走势，而主动式的投资经理则应在预先设定的许可范围内，投资于恒生指数的个别成分股，以取得较恒生指数表现更佳的投资回报。
• Exchange fund investment limited ( efil ) was established in october 1998 as a private limited company under the companies ordinance to manage the hang seng index ( hsi ) constituent stocks acquired by the government during the market operation in august 1998
  外汇基金投资有限公司在一九九八年十月根据《公司条例》成立，是一间私营有限公司，负责管理政府在一九九八年八月入市行动中购入的恒生指数成分股组合。
• If you are skilful in picking hang seng index stocks , you will find yourself beating the performance of hang seng index achieving positive alpha in technical parlance and you should congratulate yourself for doing a good job , even if the hang seng index has fallen or you have lost money
  若您独具慧眼，选中合适的成分股，以致取得高于恒指回报率的回报，那么即使恒指实际上下跌或阁下投资录得亏损，阁下的投资表现仍算出色。
• Efac has already approved a set of investment guidelines which require the investment portfolio to be managed basically as an index - linked portfolio . it is intended that half of this portfolio will be managed as a passive portfolio replicating the hang seng index whereas the remaining half will be allowed some moderate deviations from the hang seng index
  外汇基金谘询委员会已通过一套投资指引，要求投资公把投资组合基本上作为一项与指数挂钩的组合来管理，而其中一半的股票组合会依照恒生指数成分股的比重分配，以被动组合的方式来管理，馀下的一半则可在某程度上略为偏离恒生指数。
• The former group has the mandate to manage the portfolio passively in line with , and with a view to matching the performance of , the hang seng index . for them , no trading activities are involved , other than when the need arises for re - balancing the portfolio in response to changes in the constituent stocks of the index
  被动型基金经理的目标是取得紧贴恒生指数走势的回报，他们除了是因为指数成分股有所变动而需要重新调整组合内的股票成分外，一般无需进行股票买卖活动。
• Efac has already approved a set of investment guidelines which require the investment portfolio to be managed basically as an index - linked portfolio . it is intended that half of this portfolio will be managed as a passive portfolio replicating the hang seng index whereas the remaining half will be allowed some moderate deviations from the hang seng index
  外汇基金谘询委员会已通过一套投资指引，要求投资公把投资组合基本上作为一项与指数挂钩的组合来管理，而其中一半的股票组合会依照恒生指数成分股的比重分配，以被动组合的方式来管理，馀下的一半则可在某程度上略为偏离恒生指数。
• The directors have concluded that , notwithstanding the fact that neither the govenment nor efil is under any legal obligations to disclose , it would now be appropriate in the interest of the public for the govenment to disclose in full the 33 hang seng index constituent stocks acquired by the exchange fund in its recent market operation
  虽然不论政府抑或外汇基金投资有限公司都没有任何法律责任要公开持股的资料，但董事局已认为，政府现时全面公开股市行动中外汇基金所购入的33只恒生指数成分股的资料，是符合公众利益的。我们将会在今次记者会结束时派发一份