句子
1、The capital appreciation is left unhedged.
2、a forward contract taken out on the expected appreciation in the property value.
3、Modern Portfolio Theory, however, suggests the expected performance so the reliability of the results from the studies summarized in this paper is questionable.
4、Currency assets and liabilities could be netted out to reveal the net exposure to particular exchange rate movements and that risk could then be managed centrally, maximizing economies of scale in carrying out the currency hedges.
5、this is only an appropriate strategy for real estate investments in developed markets given the lack of hedges available for capital invested in emerging markets.
短语
reversionary value
the level of downside risk
country-by-country
为了预测的研究，（期货研究）future research 一般futures是期货的意思
mean-variance portfolio analysis.( 均值－方差投资组合分析)
denominated in US dollars.（美元支付的）
settlement costs 解纷成本
Settlement Costs 交易费用，结算费用？
Individual Asset 单个资产 （个体资产，单项资产）
performance measurement 绩效评估 业绩测评
repatriation of funds 返还本国资金
performance characteristics （业绩表现特征？）
expected performance （预期业绩）
unchartered 不合规则 未得特許狀的 ?o法?o天的
additional analysis 补充分析
common continental factor 共有的大陆因素
As time passes 随着时间的推移
currency overlay
over the years that followed (意译): 在以后的几年里面
是金融经济方面的，谢谢啦！
有些地方比较费解，如果能多给点上下文可能会好些。下面的内容仅供参考，也请各位朋友来讨论一下，多提些意见。
1、The capital appreciation is left unhedged。
并未对资本升值采取套期保值措施。
2、a forward contract taken out on the expected appreciation in the property value。
基于对财产价值的升值预期而取得的远期契约。
3、 Modern Portfolio Theory, however, suggests the expected performance so ...全部
有些地方比较费解，如果能多给点上下文可能会好些。下面的内容仅供参考，也请各位朋友来讨论一下，多提些意见。
1、The capital appreciation is left unhedged。
并未对资本升值采取套期保值措施。
2、a forward contract taken out on the expected appreciation in the property value。
基于对财产价值的升值预期而取得的远期契约。
3、 Modern Portfolio Theory, however, suggests the expected performance so the reliability of the results from the studies summarized in this paper is questionable。
然而，现代投资组合理论对于预期表现的看法是，本文中概述的各种研究所得出的结果不是十分可靠的。（根据你给出的前句和我所知道的理论理解，不过还是觉得原句有点问题。）
4、Currency assets and liabilities could be netted out to reveal the net exposure to particular exchange rate movements and that risk could then be managed centrally, maximizing economies of scale in carrying out the currency hedges。
可以计算出外汇资产和负债的净值，以揭示其在特定汇率变动面前的净盘口；然后可以对这一风险进行集中管理，从而在外汇避险的过程中实现规模经营的最大化。（net exposure改了一个说法，不过新浪的财经文章喜欢用净暴露这个词。
）
5、this is only an appropriate strategy for real estate investments in developed markets given the lack of hedges available for capital invested in emerging markets。
考虑到投资于新兴市场的资金缺乏可以采取的套期保值措施，这仅仅是一种适用于在发达市场中房地产投资的策略。
6、The treatment of accounting, tax and legal implications from owning real estate on an international basis has not yet been explored by any of the researchers。
对以跨国形式持有地产的会计、税务和法律问题的处理，目前还没有任何研究者系统地研究过。
短语抽出来以后不好理解，所以仅供参考：
reversionary value：复归价值
the level of downside risk：下跌风险的程度
country-by-country：对各个国家逐一（进行。
。。
）
future research：如果是future的话，似乎是指：将来的研究/进一步的研究
mean-variance portfolio analysis：投资组合的均异分析
denominated in US dollars：采用美元的（是不是“支付”根据上下文而定）
settlement costs：过户费用（这里的settlement似乎是指转手交易）
Settlement Costs：同上（要根据你的上下文来定）
Individual Asset：单项资产（or单个资产）
performance measurement：绩效评估 / 表现评估（如果是在你上面的段落中，performance是指投资组合的表现）
repatriation of funds：资金汇回本国
performance characteristics：绩效特征 / 表现特征（同上）
expected performance：预期绩效 / 预期表现（同上）
unchartered：unchartered：在句中似乎应该理解为“未受认可的”
additional analysis：补充分析
common continental factor：大陆的共同因素（和regional factor相对？）
As time passes：随着时间的推移
currency overlay：货币管理外包
over the years that followed：在随后的几年内。收起
