Advertisement
6-
9
, S
, S
8VLQJ DQ LQYHUVH WLPH FKDUDFWHULVWLFV H[FHSWHG 5,
FXUYH \RX FDQ GHWHUPLQH LQ DGGUHVV ZKHWKHU
GURSRXW RI D VWDJH LV WR IROORZ LPPHGLDWHO\ DIWHU WKH
WKUHVKROG XQGHUVKRW RU ZKHWKHU LW LV HYRNHG E\ GLVN
HPXODWLRQ k,PPHGLDWHO\l PHDQV WKDW WKH SLFNXS
GURSV RXW ZKHQ WKH SLFNXS YDOXH RI DSSUR[
XQGHUVKRW )RU D QHZ SLFNXS WKH WLPH FRXQWHU VWDUWV
DW ]HUR ,I \RX VHW '2SK
GXFHG DFFRUGLQJ WR WKH GURSRXW FKDUDFWHULVWLF
7KH GLVN HPXODWLRQ RIIHUV LWV DGYDQWDJHV LI WKH JUDG
LQJ FRRUGLQDWLRQ FKDUW RI WKH WLPH RYHUFXUUHQW
SURWHFWLRQ LV FRPELQHG ZLWK RWKHU GHYLFHV RQ HOHF
WURPHFKDQLFDO RU LQGXFWLRQ EDVH FRQQHFWHG WR WKH
V\VWHP
' 2 S K
, P P H G L D W
' V N ( P
& $ / & S K
Q R + $ 5 0 2 1
+ $ 5 0 2 1 , &
0 & / S K
, ! ! X Q G H O
, ! X Q G H O D
, S
X Q G H O
, 1 ( ) ) ( & 7
&*&
, Q
G \
, Q
'VN(P GURSRXW LV SUR
>@
)RU k$16, 2&l RU k$16, LQYl
3LFNXS YDOXH RI WKH LQYHUVH WLPH RYHUFXUUHQW VWDJH ,
SKDVH FXUUHQWV
6HWWLQJ UDQJH
>@
)RU k$16, 2&l RU k$16, LQYl
'\QDPLF SLFNXS YDOXH RI LQYHUVH WLPH 2& VWDJH ,
6HWWLQJ UDQJH
:KHQ WKH GHILQLWH WLPH FKDUDFWHULVWLF LV FKRVHQ WKH
IXQGDPHQWDO ZDYHV RI WKH PHDVXUHG FXUUHQWV DUH
HYDOXDWHG IRU SLFNXS :KHQ RQH RI WKH LQYHUVH WLPH
FKDUDFWHULVWLF LV FKRVHQ D FKRLFH FDQ EH PDGH
ZKHWKHU WKH IXQGDPHQWDO ZDYHV RI WKH PHDVXUHG
FXUUHQWV DUH HYDOXDWHG RU LI WKH WUXH UPV YDOXHV LQ
LV
FOXGLQJ KDUPRQLFV DQG GF FRPSRQHQW DUH FDOFX
ODWHG IRU HYDOXDWLRQ
7KH QH[W SDUDPHWHU LQ DGGUHVV EORFN GHWHUPLQHV
ZKLFK VWDJH LV HIIHFWLYH ZKHQ WKH FLUFXLW EUHDNHU LV
PDQXDOO\ FORVHG $ SUHUHTXLVLWH LV WKDW WKH PDQXDO
FORVH FRPPDQG IRU WKH EUHDNHU LV UHSHDWHG YLD D
ELQDU\ LQSXW WR WKH UHOD\ VR WKDW LW LV LQIRUPHG DERXW
PDQXDO FORVLQJ RI WKH EUHDNHU ,1())(&7LYH PHDQV
WKDW WKH VWDJHV RSHUDWH DFFRUGLQJ WR WKH VHWWLQJV
>@
)RU LQYHUVH WLPH RYHUFXUUHQW SURWHFWLRQ RQO\
'URSRXW RI WKH LQYHUVH WLPH VWDJHV WDNHV SODFH LPPHGL
DWHO\ DIWHU VZLWFKRII RI WKH FXUUHQW
'URSRXW RI WKH LQYHUVH WLPH VWDJHV WDNHV SODFH ZLWK GLVN
HPXODWLRQ LH DFFRUGLQJ WR WKH GURSRXW FKDUDFWHULVWLF
>@
)RU LQYHUVH WLPH RYHUFXUUHQW SURWHFWLRQ RQO\
7KH IXQGDPHQWDO ZDYHV RI WKH PHDVXUHG FXUUHQWV
DUH HYDOXDWHG
7KH WUXH UPV YDOXHV RI WKH PHDVXUHG FXUUHQWV DUH HYD
OXDWHG
> @
3KDVH RYHUFXUUHQW VWDJH ZKLFK LV HIIHFWLYH GXULQJ PDQXDO
FORVLQJ RI WKH FLUFXLW EUHDNHU
,!!
LH ,!! VWDJH EXW XQGHOD\HG
,!
LH ,! VWDJH GHILQLWH WLPH EXW XQGHOD\HG
,S
LH ,
VWDJH LQYHUVH WLPH EXW XQGHOD\HG
S
,1())(&7,9( LH VWDJHV RSHUDWH DV SDUDPHWHUL]HG
2SHUDWLQJ LQVWUXFWLRQV
k ,
WR k ,
1
1
k ,
WR k ,
1
1
IRU
S
G\Q
S
Advertisement
