However, if an RMB fund co-invests with an offshore fund, the offshore fund would still need to obtain regulatory approvals, effectively making it the "lowest common denominator."
然而，如果人民币基金的投资人有离岸基金的话，那么离岸基金仍然需要得到批准，以更有效的寻求“最小公分母”。
The Swiss will allow Mr Jabre to run an offshore fund there without approval from the EBK, the federal watchdog, as long as he does not solicit money from more than 20 investors a year.
瑞士人允许Jabre先生操作一支离岸基金，而无需联邦监察机构---瑞士联邦银行委员会(EBK)---的批准，条件是只要他每年筹集资金的对象不超过20位投资者。
In 1999 and 2000 he did well, and in 2002 he started Matador, an offshore hedge fund.
他在1999年和2000年做的很好，并于2002年创办了斗牛士基金，这是一个海外对冲基金。
In 1999 and 2000 he did well, and in 2002 he started Matador, an offshore hedge fund.
他在1999年和2000年做的很好，并于2002年创办了斗牛士基金，这是一个海外对冲基金。
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