Kafukufuku wophunzitsidwa ndi a Yunivesite ya Yale ndi Maastricht ku Financial Times akupeza kuti pa zaka 10 kuyambira mu 2001, ndalama za penshoni za US zinapeza 4.5% pachaka, pambuyo pa malipiro awo, kuchokera kuzinthu zawo zachinsinsi.
Zikuyerekeza bwino ndi S & P 400, yomwe inabweretsanso kawirikawiri 6.7% panthawi yomweyi, ndi malipiro omwe amawomboledwanso. Phunziroli likuwonetsanso kuti, ngati ndalama zonse zimaganiziridwa, pafupifupi 70 peresenti ya kubwezera kwapadera pa ndalama zapadera zomwe ndalamazo zinasungidwa ndi ndalama zokha.
Chigamulo cholimba kwambiri chimachokera kwa Simon Lack, katswiri wa ndalama komanso wolemba The Hedge Fund Mirage . M'buku lino, akuganiza kuti, kuchokera mu 1998 mpaka 2010, hedge funds pamodzi inabweretsera $ 9 biliyoni okha kwa osungira ndalama pamene akuwononga $ 440 biliyoni kwa oyang'anira awo ndi anthu ena.
Ngakhale ndalama zapakhomo ndi ndalama zapadera zimagwirizana, pali zofanana zokwanira pakati pa mabungwe omwe amagwiritsidwa ntchito poyang'anira ndalama kuti ziwonetsetse kuti kugawidwa kotereku kungakhale kotereku. Mwazinthu zomwe anthu ambiri amaziwona ndizo:
Malipiro Otsogolera
Malipiro othandizira amayendetsera ndalama zomwe amagwiritsa ntchito payekha, ngakhale kuti kafukufuku akukula kuti ndalamazi zimakhala zochuluka kwambiri kuposa ndalama. Malipiro oyendetsa nthawi zambiri amachokera ku 1.5% mpaka 2.0% ya katundu.
Komabe, kumayambiriro kwa zaka zapadera, ndalama zoyendetsera ndalama zikhoza kuimira kuchuluka kwa ndalama zomwe zimayendetsedwa.
Chifukwa chakuti kawirikawiri amayang'ananso pa ndalama zonse zomwe azimayi apanga ku thumba la ndalama, koma zomwe thumba silikugwiritseni ntchito.
Malipiro opanga
Malipiro opangidwe kawirikawiri ndi pafupifupi 20 peresenti ya zopindulitsa zilizonse zomwe zalembedwa ndi ndalama zapadera. Ngati thumba la ndalama likuwonongeka m'chaka choperekedwa, malipiro a ntchito ndi zero. Kuwonjezera pamenepo, njira zabwino zomwe zimagwirira ntchitoyi zimakhala kuti, ndalama zisanayambe kugwira ntchito, ndalama zowonongeka zapitazo ziyenera kuthetseratu kupindula m'zaka zabwino.
Pezani Malipiro
Kulipirira ndalama zimayendetsedwa ndi makampani oyendetsa okhaokha ku makampani awo pazithunzithunzi zawo. Iwo akuyenera kuti azigwira ntchito zosiyanasiyana zothandizira zapadera zomwe zimaperekedwa ndi oyambirira kupita kumapeto.
Malipiro Ogulitsa
Malipiro ogulitsa amalembedwa ndi makampani ogulitsa kwa makampani omwe amagula. M'zaka za 2009 ndi 2010, ndalamazi zimakhala pafupifupi 1,24% za kukula kwa malonda, chifukwa cha kugula kwa ndalama zokwana $ 500 miliyoni ndi $ 1 biliyoni, kuchokera ku 0.99% mu 2005 mpaka 2008.
Malipiro oyang'anira
Malipiro owonetsetsa amalipidwa ndi makampani oyendetsera katundu ku eni ake omwe ali ndi ndalama zoyenerera kuti azigwira ntchito zosiyanasiyana zolangizira ndi uphungu.
Zitsanzo za Katundu Wachiwiri
Misonkho yosiyanasiyana yapadera yomwe ikugwiritsidwa ntchito payekha ikuwonjezereka kutsutsa osati kungokhala owonjezera koma chifukwa amaimira kuwirikiza kawiri ntchito ndi ntchito zomwezo, kuwonetsedwa kwa azimayi komanso makampani oyendetsa ntchito panthaŵi imodzimodziyo.
Pamene makampani apakompyuta amapita ku boma, nthawi zambiri amafunika kulipilira ndalama zambiri kuti athetse malonjezano awo ndi makampani apadera, ngakhale kuti chitukuko chachikulu cha phindu lachinsinsi ndi mafakitale ogula katundu akuyenera kutenganso kuchoka ku makampani apamtima.
Makampani ena omwe amagwira ntchito payekha amayesa malipiro pamakampani a mbiri ya ntchito kuti athe kubweza ngongole zawo. Anthu ambiri amawaona ngati ochuluka kwambiri, chifukwa cha zifukwa ziwiri. Mmodzi, makampani oyimilira paokha omwe ali ndi udindo wokhala ndi ngongole zambiri pa malo oyamba, pamene atenga makampani omwe ali osungirako ndalama (LBOs). Zili ziwiri, kukonzanso pansi pa chiwongoladzanja cha chiwongoladzanja kumawonjezera phindu la kampani ya mbiri, ndipo motero chuma chachinsinsi chachitsulo chingapindule.
Mayankho a Azimayi
Chiŵerengero chowonjezeka cha akugulitsa akutsimikizira kuti ndalama zina zosiyanazi ziyenera kugwiritsidwa ntchito kuthetsa malipiro otsogolera, m'malo mochita monga zowonjezeretsa zomwe zimapanga phindu langwiro kwa bungwe lachinsinsi, kapena kulipira malipiro owonjezera kwa antchito ake.
Poyankha, pafupifupi 83% ya ndalama zogulitsa zomwe zimagwiridwa ndi ndalama zomwe zinayambitsidwa mu 2011 zikubwezedwa kwa osunga ndalama, poyerekeza ndi 70% za ndalama zomwe zatulutsidwa mu 2009. Komabe, izi zikhoza kuthetsedwa ndi kuwonjezeka kwakukulu kwa izi ndi zina.
Ndalama Zothandizira Pensheni
Akuluakulu a ndalama pa ndalama zosiyanasiyana zapenshoni angakhale ndi chikoka cholakwika chofuna kubwezeretsanso kwa malipiro osiyanasiyana kuti athetsedwe. Chifukwa chakuti ndalama zowonjezera nthawi zambiri zimawerengedwa ngati kuchuluka kwa kubwerera kwa ndalama. Izi, zidzakulitsa ofesi ya ndalama omwe ali ndi malipilo, makamaka ngati apatsidwa mabhonasi ogwirizana ndi kubwezeretsa ndalama.
Komabe, ngati malipirowo sanapereke chigamulo, kuchuluka kwa ndalama zomwe zimaperekedwa kwa makampani oyang'anira ntchito (mosasamala chifukwa alibe malonda ogulitsa ndi mtengo wogulitsa m'misika yamtundu wa anthu) mwina sakanati awonetseke kuti wasamuka ndi ndalama zoyenera .
Zowonjezera: "Kugulitsa ndalama kwa anthu ogula ndalama kumaitanitsa kusintha kwa 'malipiro' omwe amatha kulipira," Financial Times , November 7, 2011. "Mgwirizano wapadera: Ndalama zapamwamba kwambiri," The Economist , November 12, 2011. kufunsa "ndi" ndalama zowonetsera ndalama, "pa Financial 24 January, 2012." Mphoto chifukwa cholephera: Makasitomala a Hedge amapereka ndalama zambiri pokhapokha, " Financial Times , February 18, 2012.