VOA慢速英语20061110a

ECONOMICS REPORT - Americans Invest for the Future in Mutual¹ FundsBy Mario Ritter

Broadcast: Friday, November 10, 2006

This is the VOA Special English Economics Report.


Investments

People invest money in the hope their wealth will grow over time. People with a lot of money may have financial advisers² to make investments for them. But people with limited savings³ can invest through mutual funds.

A mutual fund is a collection of different financial securities. These include stocks and debt-based investments.

Stock in a company gives the buyer a financial share in that business. The shareholder⁴ may receive a small payment, or dividend⁵, from time to time for each share owned. But the value of stocks can change greatly in a short time.

A debt-based security, like a bond, represents a loan for a set period of time. Companies or governments sell these securities as a way to borrow money. Most debt securities pay interest until their period ends, or they reach maturity⁶. After that, the loan is repaid.

Mutual funds can invest in stocks, debt securities or a mixture of both. They offer investors⁸ a lot of choice. For example, a stock index fund can be designed to match the performance of the whole stock market, investing in thousands of stocks. For as little as one thousand dollars, an investor⁷ can own the stock market. Index funds also cost little to own.

On the other hand, trading individual stocks and bonds can be costly⁹. Investment trading companies charge investors to make trades on exchanges like the New York Stock Exchange or NASDAQ. But if a buyer invests only a small amount, the cost of trading can quickly reduce his or her investment gains.

The Investment Company Institute says the average yearly cost of a mutual fund is a little over one percent of the amount invested. And costs continue to drop.

Mutual funds also reduce risk. They spread money over hundreds of investments. This limits the harm from a single investment loss. But, even the largest mutual funds still carry some risk. There is no guarantee that a mutual fund will gain or keep its value under bad market conditions.

Today, there are almost eight thousand mutual funds in the United States. And Americans continue to increase their mutual fund holdings.

About half of all American families own some mutual funds. Their average investment is forty-eight thousand dollars.

And that's the VOA Special English Economics Report, written by Mario Ritter. You can find our reports, including transcripts¹⁰ and MP3 files, at www.unsv.com I'm Steve Ember.

1 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

2 advisers   

顾问，劝告者( adviser的名词复数 )； （指导大学新生学科问题等的）指导教授

参考例句：

• a member of the President's favoured circle of advisers 总统宠爱的顾问班子中的一员
• She withdrew to confer with her advisers before announcing a decision. 她先去请教顾问然后再宣布决定。

3 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

4 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

5 dividend   

n.红利，股息；回报，效益

参考例句：

• The company was forced to pass its dividend.该公司被迫到期不分红。
• The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增长了近 4%。

6 maturity   

n.成熟；完成；(支票、债券等)到期

参考例句：

• These plants ought to reach maturity after five years.这些植物五年后就该长成了。
• This is the period at which the body attains maturity.这是身体发育成熟的时期。

7 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

8 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

9 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

10 transcripts   

n.抄本（ transcript的名词复数 ）；转写本；文字本；副本

参考例句：

• Like mRNA, both tRNA and rRNA are transcripts of chromosomal DNA. tRNA及rRNA同mRNA一样，都是染色体DNA的转录产物。 来自辞典例句
• You can't take the transfer students'exam without your transcripts. 没有成绩证明书，你就不能参加转学考试。 来自辞典例句