As i have said before , this difference between the actual return and that of the benchmark the alpha as it is known in the investment business is a more appropriate measure of the hkma s performance in managing the exchange fund : more so than the absolute figure as it reflects the results of our active management of the fund 系数是评估金管局在管理外汇基金方面的表现更合适的指标，较实际投资收入数额更适当，因为前者反映我们积极管理外汇基金的成果。
These differences will be for the account of the exchange fund : in years when the investment portfolio achieves a higher rate of return , the amount above the fee rate will be credited to the fund ; in years when the actual return is lower than the fee rate , the fund will still pay the calculated fee rate to the treasury 这些差距会计入外汇基金的帐目：在投资组合回报较高的年度，实际投资收入会高于支付予财政储备的费用，馀额便会拨入外汇基金相反，在实际回报低于计算所得的费用的年度，基金仍须向库房支付该笔费用。
