New institutions, such as hedge funds and conduits—what Paul McCulley, of Pimco, a fund management group, has called “the shadow banking system”—are highly dependent on borrowed money, or leverage.
像冲基金和管道机构---Pimco资金管理集团的Paul McCulley将它们称为“影子银行系统”---这样的新兴机构严重地依赖借入资金（或曰杠杆）。
BlueCrest Capital Management, a leading British hedge-fund group, is establishing a Geneva office.
BlueCres资本管理公司，一家英国对冲基金的领头团队，正建立一个日内瓦办公室。
Until now, the most eye-catching listings in London have been those of fund-management firms, such as Man Group, a hedge-fund conglomerate which went public in 1994.
到目前为止，伦敦最抢眼的上市公司仍是基金管理公司。
Until now, the most eye-catching listings in London have been those of fund-management firms, such as Man Group, a hedge-fund conglomerate which went public in 1994.
到目前为止，伦敦最抢眼的上市公司仍是基金管理公司。
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