Because investors cannot beat the market in aggregate, all this means is that money is transferred from investors to fund managers.
因为总体上来说投资者无法超越市场的表现，这就意味着资金从投资者手里转移到了基金经理的手里。
2
By talking to prime brokers (the arms of Banks that serve hedge funds), the authorities have also been able to monitor the aggregate level of hedge-fund exposure, and thus systemic risk.
通过与首席经纪商(银行向对冲基金提供服务的人员)谈话，官方能够监督对冲基金的总体风险，即系统风险。
3
This is an important function of the software company's trading fundaggregate data, including Social Security fund.