{"id":27144,"date":"2025-07-14T06:00:00","date_gmt":"2025-07-13T22:00:00","guid":{"rendered":"https:\/\/www.franchise.com.hk\/%e6%9d%b1%e8%8b%b1%e8%b3%87%e7%ae%a1%e8%88%87-counterpoint%e9%87%8d%e5%95%9f%e4%ba%9e%e6%b4%b2%e5%ae%8f%e8%a7%80%e5%9f%ba%e9%87%91%ef%bc%8c%e6%8a%8a%e6%8f%a1%e5%85%a8%e7%90%83%e7%b6%93%e6%bf%9f\/27144"},"modified":"2025-07-14T06:00:00","modified_gmt":"2025-07-13T22:00:00","slug":"%e6%9d%b1%e8%8b%b1%e8%b3%87%e7%ae%a1%e8%88%87-counterpoint%e9%87%8d%e5%95%9f%e4%ba%9e%e6%b4%b2%e5%ae%8f%e8%a7%80%e5%9f%ba%e9%87%91%ef%bc%8c%e6%8a%8a%e6%8f%a1%e5%85%a8%e7%90%83%e7%b6%93%e6%bf%9f","status":"publish","type":"post","link":"https:\/\/www.franchise.com.hk\/en\/%e6%9d%b1%e8%8b%b1%e8%b3%87%e7%ae%a1%e8%88%87-counterpoint%e9%87%8d%e5%95%9f%e4%ba%9e%e6%b4%b2%e5%ae%8f%e8%a7%80%e5%9f%ba%e9%87%91%ef%bc%8c%e6%8a%8a%e6%8f%a1%e5%85%a8%e7%90%83%e7%b6%93%e6%bf%9f\/27144","title":{"rendered":"\u6771\u82f1\u8cc7\u7ba1\u8207 Counterpoint\u91cd\u555f\u4e9e\u6d32\u5b8f\u89c0\u57fa\u91d1\uff0c\u628a\u63e1\u5168\u7403\u7d93\u6fdf\u95dc\u9375\u6642\u523b"},"content":{"rendered":"<p> <span class=\"legendSpanClass\">\u9999\u6e2f<\/span> <span class=\"legendSpanClass\">2025\u5e747\u670814\u65e5<\/span> \/\u7f8e\u901a\u793e\/ &#8212; <span>\u4e9e\u6d32<\/span>\u9818\u5148\u7684\u57fa\u91d1\u5e73<span>\u53f0\u6771<\/span>\u82f1\u6295\u8cc7\u7ba1\u7406\u6709\u9650\u516c\u53f8\uff08\u300c\u6771\u82f1\u8cc7\u7ba1\u300d\uff09\u8207 Geoffrey Barker \u5408\u4f5c\uff0c\u63a8\u51fa\u4e00\u96bb\u8a2d\u7acb\u65bc\u958b\u66fc\u7fa4\u5cf6\u7684\u96e2\u5cb8\u57fa\u91d1\u2014\u2014Counterpoint Asian Macro Master Fund\uff08\u300c\u57fa\u91d1\u300d\uff09\u3002\u8a72\u57fa\u91d1\u65e8\u5728\u900f\u904e\u56b4\u8b39\u3001\u6578\u64da\u9a45\u52d5\u7684\u6295\u8cc7\u65b9\u6cd5\uff0c\u6355\u6349\u4e9e\u6d32\u5730\u5340\u7684\u5b8f\u89c0\u7d93\u6fdf\u932f\u4f4d\u6a5f\u6703\u3002<\/p>\n<p>\u9019\u652f\u57fa\u91d1\u7531\u8cc7\u6df1\u5b8f\u89c0\u57fa\u91d1\u7d93\u7406\u00a0Geoffrey Barker \u9818\u5c0e\uff0cGeoffrey\u5728\u5168\u7403\u5e02\u5834\u64c1\u6709\u8d85\u904e\u4e09\u5341\u5e74\u7d93\u9a57\uff0c\u66fe\u4efb\u6ed9\u8c50\u9280\u884c\u4e9e\u592a\u5340\u9996\u5e2d\u7d93\u6fdf\u5e2b\uff0c\u4e3b\u5c0e\u5340\u57df\u7814\u7a76\u53ca\u5b8f\u89c0\u7b56\u7565\u3002Counterpoint \u5718\u968a\u6210\u54e1\u5408\u4f5c\u591a\u5e74\uff0c\u4e3b\u8981\u6210\u54e1\u5305\u62ec\uff1a\u5b8f\u89c0\u7b56\u7565\u5e2b Nick Bibby\u3001\u696d\u52d9\u62d3\u5c55\u4e3b\u7ba1 Neil Scrase\uff0c\u4ee5\u53ca\u8ca1\u52d9\u4e3b\u7ba1 Maurien Yau\u3002<\/p>\n<p>\u300cCounterpoint \u4ee3\u8868\u8457\u65b0\u4e00\u4ee3\u5b8f\u89c0\u6295\u8cc7\u7406\u5ff5\u2014\u2014\u878d\u5408\u56b4\u8b39\u7684\u81ea\u4e0a\u800c\u4e0b\u5206\u6790\u8207\u9748\u6d3b\u7684\u6230\u8853\u61c9\u8b8a\u80fd\u529b\uff0c\u300d\u57fa\u91d1\u7d93\u7406Geoffrey Barker \u8868\u793a\u3002\u300c\u6211\u5011\u975e\u5e38\u9ad8\u8208\u80fd\u8207\u6771\u82f1\u8cc7\u7ba1\u5408\u4f5c\uff0c\u5c07\u9019\u4e00\u9858\u666f\u4ed8\u8af8\u5be6\u73fe\uff0c\u4e26\u8207\u5168\u7403\u8ca1\u5bcc\u7ba1\u7406\u6a5f\u69cb\u5206\u4eab\u3002\u300d<\/p>\n<p>\u57fa\u91d1\u7684\u63a8\u51fa\u6070\u9022\u5168\u7403\u683c\u5c40\u5287\u8b8a\uff0c\u4f7f\u5b8f\u89c0\u6295\u8cc7\u7b56\u7565\u6108\u52a0\u53d7\u5230\u95dc\u6ce8\u8207\u91cd\u8996\u4e4b\u6642\u3002<\/p>\n<p> \u5730\u7de3\u653f\u6cbb\u7684\u4e0d\u7a69\u5b9a\u6027\u6b63\u5728\u91cd\u5851\u50b3\u7d71\u7a69\u5b9a\u7684\u5e02\u5834\uff0c\u65bc\u5916\u532f\u3001\u4e3b\u6b0a\u50b5\u5238\u53ca\u5229\u7387\u66f2\u7dda\u4e2d\u5275\u9020\u975e\u5c0d\u7a31\u6295\u8cc7\u6a5f\u6703\uff1b   \u5404\u570b\u592e\u884c\u653f\u7b56\u51fa\u73fe\u5206\u5316\uff0c\u63a8\u52d5\u8ca8\u5e63\u653f\u7b56\u5236\u5ea6\u7684\u5dee\u7570\u5316\uff0c\u70ba\u6230\u8853\u6027\u5b8f\u89c0\u7b56\u7565\u5e03\u5c40\u63d0\u4f9b\u6c83\u571f\uff1b   \u767c\u9054\u5e02\u5834\u98a8\u96aa\u7684\u91cd\u65b0\u5b9a\u50f9\uff0c\u70ba\u80fd\u9748\u6d3b\u4e14\u7cbe\u6e96\u61c9\u5c0d\u4e0d\u78ba\u5b9a\u6027\u7684\u7b56\u7565\u5275\u9020\u65b0\u6a5f\u9047\uff1b   \u96a8\u8457\u80a1\u7968\u8207\u4fe1\u8cb8\u5e02\u5834\u7684\u8106\u5f31\u6027\u52a0\u5287\uff0c\u6295\u8cc7\u8005\u5c0d\u5b8f\u89c0\u7b56\u7565\u7684\u8208\u8da3\u518d\u5ea6\u5347\u6eab\uff0c\u5c0b\u6c42\u591a\u5143\u5316\u8207\u4e0b\u884c\u4fdd\u8b77\u3002  <\/p>\n<p>\u6771\u82f1\u8cc7\u7ba1\u884c\u653f\u7e3d\u88c1\u8303\u6587\u555f\u8868\u793a\uff1a\u300c\u6a5f\u69cb\u6295\u8cc7\u8005\u5c0d\u4e3b\u52d5\u578b\u5b8f\u89c0\u7ba1\u7406\u7b56\u7565\u7684\u95dc\u6ce8\u9054\u5230\u6b77\u53f2\u65b0\u9ad8\uff0c\u5c24\u5176\u662f\u5728\u50b3\u7d71\u5e02\u5834\u51fa\u73fe\u7d50\u69cb\u6027\u8f49\u8b8a\u4e4b\u969b\u3002Counterpoint \u7684\u6295\u8cc7\u65b9\u6cd5\u5927\u81bd\u3001\u5be9\u614e\uff0c\u4e26\u5efa\u7acb\u65bc\u6a5f\u69cb\u7d1a\u98a8\u96aa\u7ba1\u7406\u57fa\u790e\u4e4b\u4e0a\uff0c\u6b63\u662f\u6211\u5011\u5e73\u53f0\u81f4\u529b\u63a8\u52d5\u7684\u5275\u65b0\u578b\u7b56\u7565\u3002\u300d<\/p>\n<p>\u672c\u57fa\u91d1\u7684\u5408\u4f5c\u5925\u4f34\u5305\u62ec\uff1a\u6469\u6839\u58eb\u4e39\u5229\u64d4\u4efb\u4e3b\u7d93\u7d00\u5546\u53ca\u8a17\u7ba1\u4eba\uff0cCitco \u64d4\u4efb\u57fa\u91d1\u884c\u653f\u7ba1\u7406\u4eba\uff0cKPMG \u64d4\u4efb\u5be9\u8a08\u6a5f\u69cb\uff0cDLA Piper \u53ca Mourant Ozannes \u64d4\u4efb\u6cd5\u5f8b\u9867<span>\u554f\u3002<\/span><\/p>\n<p> \u95dc\u65bc\u6771\u82f1\u6295\u8cc7\u7ba1\u7406\u6709\u9650\u516c\u53f8  <span>\uff08<\/span>\u6771\u82f1\u8cc7\u7ba1<span>\uff09<\/span> <\/p>\n<p>\u6771\u82f1\u8cc7\u7ba1\u4ee5\u5408\u4f5c\u5925\u4f34\u7684\u8eab\u4efd\u5354\u52a9\u57fa\u91d1\u7d93\u7406\uff0c\u5efa\u7acb\u70ba\u6a5f\u69cb\u548c\u5c08\u696d\u6295\u8cc7\u8005\u958b\u767c\u5275\u65b0\u6027\u7684\u6295\u8cc7\u7b56\u7565\u3002\u6771\u82f1\u8cc7\u7ba1\u7684\u5c0d\u6c96\u57fa\u91d1\u5e73\u53f0\uff0c\u6b63\u5438\u5f15\u8457\u4f86\u81ea\u5168\u7403\u7684\u57fa\u91d1\u7d93\u7406\u548c\u6295\u8cc7\u8005\uff0c\u651c\u624b\u696d\u5167\u9802\u7d1a\u5408\u4f5c\u5925\u4f34\u5011\u5171\u5275\u9583\u8000\u672a\u4f86\u3002<\/p>\n<p>\u6771\u82f1\u8cc7\u7ba1\u70ba\u696d\u5167\u9818\u5148\u7684\u8cc7\u7522\u7ba1\u7406\u516c\u53f8\uff0c\u65bc2004\u5728\u9999\u6e2f\u8a3b\u518a\u6210\u7acb\u3002\u6771\u82f1\u8cc7\u7ba1\u6301\u6709\u9999\u6e2f\u8b49\u5238\u53ca\u671f\u8ca8\u4e8b\u52d9\u76e3\u5bdf\u59d4\u54e1\u6703\uff08\u8b49\u76e3\u6703\uff09\u7684\u7b2c1\u985e\uff08\u8b49\u5238\u4ea4\u6613\uff09\u3001\u7b2c4\u985e\uff08\u5c31\u8b49\u5238\u63d0\u4f9b\u610f\u898b\uff09\u4ee5\u53ca\u7b2c9\u985e\uff08\u63d0\u4f9b\u8cc7\u7522\u7ba1\u7406\uff09\u724c\u7167\uff0c\u5f9e\u4e8b\u300a\u8b49\u5238\u53ca\u671f\u8ca8\u689d\u4f8b\u300b\u898f\u5b9a(Cap.571)\u4e0b\u7684\u53d7\u898f\u7ba1\u696d\u52d9\u6d3b\u52d5\u3002\u6771\u82f1\u8cc7\u7ba1\u50c5\u80fd\u5411\u7b26\u5408\u8cc7\u683c\u7684\u5c08\u696d\u6295\u8cc7\u4eba\u63d0\u4f9b\u670d\u52d9\u3002\u6771\u82f1\u8cc7\u7ba1\u540c\u6642\u70ba\u9999\u6e2f\u6771\u82f1\u91d1\u878d\u96c6\u5718\u6210\u54e1\u3002<\/p>\n<p>  \u514d\u8cac\u8072\u660e  <\/p>\n<p> \u672c\u6587\u4ef6\u7531\u6771\u82f1\u6295\u8cc7\u7ba1\u7406\u6709\u9650\u516c\u53f8\uff08\u300c\u6771\u82f1\u8cc7\u7ba1\u300d\uff09\u7de8\u5236\u3002\u672c\u6587\u4ef6\u53ca\u6771\u82f1\u8cc7\u7ba1\u7db2\u7ad9\uff08  <a href=\"https:\/\/www.opim.com.hk\/\" target=\"_blank\" rel=\"noopener\">www.opim.com.hk<\/a>  \uff09\u4e26\u672a\u7d93\u9999\u6e2f\u8b49\u52b5\u53ca\u671f\u8ca8\u4ea4\u6613\u76e3\u5bdf\u59d4\u54e1\u6703\u5be9\u95b1\u3002\u672c\u6587\u4ef6\u50c5\u63d0\u4f9b\u4fe1\u606f\u4ee5\u4f9b\u53c3\u8003\uff0c\u4e26\u4e0d\u69cb\u6210\u4efb\u4f55\u8b49\u5238\u3001\u671f\u8ca8\u3001\u671f\u6b0a\u6216\u5176\u4ed6\u91d1\u878d\u5de5\u5177\u7684\u8981\u7d04\u3001\u8981\u7d04\u7684\u5fb5\u6c42\u6216\u6295\u8cc7\u5efa\u8b70\u7684\u63a8\u85a6\u3002\u6295\u8cc7\u6d89\u53ca\u98a8\u96aa\u3002\u672c\u6587\u4ef6\u4e2d\u7684\u4efb\u4f55\u5546\u6a19\u3001\u6a19\u8a8c\u548c\u76f8\u95dc\u77e5\u8b58\u7522\u6b0a\u5747\u70ba\u6771\u82f1\u8cc7\u7ba1\u6216\u5176\u4ed6\u7b2c\u4e09\u65b9\u6240\u6709\u3002\u904e\u5f80\u8868\u73fe\u53ca\u5c0d\u7d93\u6fdf\u3001\u8b49\u5238\u5e02\u5834\u6216\u5e02\u5834\u7d93\u6fdf\u8d70\u52e2\u7684\u9810\u6e2c\u3001\u63a8\u65b7\u6216\u9810\u5831\uff0c\u4e26\u4e0d\u4ee3\u8868\u6771\u82f1\u8cc7\u7ba1\u6240\u7ba1\u7406\u6216\u5efa\u8b70\u7684\u57fa\u91d1\u6216\u8cec\u6236\u7684\u672a\u4f86\u6216\u53ef\u80fd\u7684\u8868\u73fe\u3002\u96d6\u7136\u6771\u82f1\u8cc7\u7ba1\u76f8\u4fe1\u672c\u6587\u4ef6\u7684\u8cc7\u6599\u5728\u520a\u767c\u6642\u662f\u53ef\u9760\u7684\uff0c\u4f46\u6771\u82f1\u8cc7\u7ba1\u4e0d\u5c31\u5176\u6e96\u78ba\u6027\u6216\u5b8c\u6574\u6027\u4f5c\u51fa\u4fdd\u8b49\uff0c\u4e26\u4e14\u4e0d\u6703\u70ba\u4efb\u4f55\u4e8b\u5be6\u6216\u610f\u898b\u7684\u8aa4\u5dee\u8ca0\u8cac\uff0c\u6216\u70ba\u4efb\u4f55\u4eba\u56e0\u4f9d\u8cf4\u6b64\u7b49\u8cc7\u6599\u800c\u62db\u81f4\u7684\u640d\u5931\u627f\u64d4\u8cac\u4efb\u3002\u672c\u6587\u4ef6\u6240\u8f09\u7684\u4efb\u4f55\u610f\u898b\u6216\u4f30\u7b97\u8cc7\u6599\u53ef\u80fd\u6703\u4f5c\u51fa\u8b8a\u66f4\uff0c\u4e26\u4e0d\u6703\u4e8b\u524d\u901a\u544a\u3002\u672a\u7d93\u6771\u82f1\u8cc7\u7ba1\u4e8b\u5148\u7684\u66f8\u9762\u540c\u610f\uff0c\u4e0d\u5f97\u520a\u767c\uff0c\u50b3\u95b1\uff0c\u8907\u88fd\u6216\u5206\u6d3e\u672c\u6587\u4ef6\u7684\u5168\u90e8\u6216\u4efb\u4f55\u90e8\u4efd\u3002 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