{"id":37783,"date":"2024-05-09T14:06:01","date_gmt":"2024-05-09T06:06:01","guid":{"rendered":"https:\/\/vertu.com\/?p=37783"},"modified":"2024-05-09T14:06:01","modified_gmt":"2024-05-09T06:06:01","slug":"family-office-investing-in-the-secondary-market-six-key-points-to-consider","status":"publish","type":"post","link":"https:\/\/legacy.vertu.com\/ar\/%d9%86%d9%85%d8%b7-%d8%a7%d9%84%d8%ad%d9%8a%d8%a7%d8%a9\/family-office-investing-in-the-secondary-market-six-key-points-to-consider\/","title":{"rendered":"\u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a: \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629\u060c \u0633\u062a \u0646\u0642\u0627\u0637 \u0623\u0633\u0627\u0633\u064a\u0629 \u064a\u062c\u0628 \u0645\u0631\u0627\u0639\u0627\u062a\u0647\u0627"},"content":{"rendered":"

\u0645\u0646\u0630 \u0628\u062f\u0627\u064a\u0629 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645\u060c \u0648\u0628\u062a\u0623\u062b\u064a\u0631 \u0645\u0646 \u0639\u0648\u0627\u0645\u0644 \u0639\u062f\u0645 \u0627\u0644\u064a\u0642\u064a\u0646 \u0641\u064a \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0643\u0644\u064a\u060c \u0642\u0627\u0645\u062a \u0628\u0639\u0636 \u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 (\u0627\u0644\u0645\u0634\u0627\u0631 \u0625\u0644\u064a\u0647\u0627 \u0628\u0627\u0633\u0645 \"\u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629\") \u0628\u0632\u064a\u0627\u062f\u0629 \u0646\u0633\u0628\u0629 \u0645\u062e\u0635\u0635\u0627\u062a\u0647\u0627 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629.<\/p>\n

\u0625\u0630\u0646\u060c \u0645\u0627 \u0647\u064a \u0627\u0644\u0646\u0642\u0627\u0637 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629 \u0627\u0644\u062a\u064a \u064a\u062c\u0628 \u0639\u0644\u0649 \u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 \u0627\u0644\u0627\u0646\u062a\u0628\u0627\u0647 \u0625\u0644\u064a\u0647\u0627 \u0639\u0646\u062f \u0627\u0644\u062a\u062e\u0635\u064a\u0635 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629\u061f<\/p>\n

\"\u0635\u0648\u0631\u0629\"<\/p>\n

\u0641\u064a \u0646\u0647\u0627\u064a\u0629 \u0627\u0644\u0642\u0631\u0646 \u0627\u0644\u0645\u0627\u0636\u064a\u060c \u0648\u0641\u064a \u0645\u062c\u0627\u0644 \u0627\u0644\u062a\u0645\u0648\u064a\u0644\u060c \u0643\u0627\u0646\u062a \u0647\u0646\u0627\u0643 \u062f\u0631\u0627\u0633\u0629 \u0645\u0639\u0631\u0648\u0641\u0629 \u0641\u064a \u0646\u0647\u0627\u064a\u0629 \u0627\u0644\u0642\u0631\u0646 \u0627\u0644\u0645\u0627\u0636\u064a. \u0641\u0628\u0639\u062f \u0623\u0646 \u0623\u062c\u0631\u0649 \u0641\u0631\u064a\u0642 \u0645\u0646 \u0627\u0644\u0639\u0644\u0645\u0627\u0621 \u062a\u062d\u0644\u064a\u0644\u0627\u064b \u0644\u0644\u0625\u0633\u0646\u0627\u062f \u0639\u0644\u0649 \u0645\u062c\u0645\u0648\u0639\u0629 \u0645\u0646 \u0627\u0644\u0645\u062d\u0627\u0641\u0638\u060c \u0648\u062c\u062f\u0648\u0627 \u0623\u0646 \u0627\u0644\u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a \u0644\u0644\u0623\u0635\u0648\u0644<\/strong> \u0647\u0648 \u0627\u0644\u0639\u0627\u0645\u0644 \u0627\u0644\u0623\u0643\u062b\u0631 \u0623\u0647\u0645\u064a\u0629 \u0627\u0644\u0630\u064a \u064a\u0624\u062b\u0631 \u0639\u0644\u0649 \u0627\u0644\u0639\u0648\u0627\u0626\u062f\u060c \u062d\u064a\u062b \u064a\u064f\u0639\u0632\u0649 \u0623\u0643\u062b\u0631 \u0645\u0646 901 \u062a\u064a\u0631\u0627\u0628\u0627\u064a\u062a \u064812 \u062a\u064a\u0631\u0627\u0628\u0627\u064a\u062a \u0645\u0646 \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0625\u0644\u0649 \u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629.<\/p>\n

\u063a\u0627\u0644\u0628\u0627\u064b \u0645\u0627 \u064a\u062a\u0645 \u062a\u062e\u0635\u064a\u0635 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0644\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0628\u0634\u0643\u0644 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a \u0628\u0646\u0627\u0621\u064b \u0639\u0644\u0649 \u0627\u062d\u062a\u064a\u0627\u062c\u0627\u062a \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0648\u0628\u064a\u0626\u0629 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062e\u0627\u0631\u062c\u064a\u0629.<\/p>\n

When constructing an investment strategy, it is common for the family office CIO (Chief Information Officer, a senior official responsible for all areas of a company's information technology and systems) to have in-depth communication with family members. After obtaining key internal information and a deep understanding of the family, and with a sufficient grasp of the market, the final investment strategy is constructed.<\/p>\n

\u064a\u062c\u0628 \u0623\u0646 \u062a\u0631\u0627\u0639\u064a \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0623\u0628\u0639\u0627\u062f \u0627\u0644\u062b\u0644\u0627\u062b\u0629 \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629 \u0627\u0644\u062a\u0627\u0644\u064a\u0629:<\/p>\n

    \n
  1. \u062a\u062e\u0635\u064a\u0635 \u0645\u062a\u0646\u0648\u0639 \u0644\u0643\u0644 \u0635\u0646\u0627\u0639\u0629<\/strong>\u060c \u0645\u062b\u0644 \u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0641\u064a \u0627\u0644\u0635\u0646\u0627\u0639\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629\u060c \u0648\u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0641\u064a \u0635\u0646\u0627\u0639\u0629 \u0627\u0644\u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627\u060c \u0648\u0645\u0627 \u0625\u0644\u0649 \u0630\u0644\u0643.<\/li>\n
  2. \u0627\u0644\u062a\u0648\u0632\u064a\u0639 \u0627\u0644\u062c\u063a\u0631\u0627\u0641\u064a \u0644\u0644\u0623\u0635\u0648\u0644<\/strong>\u060c \u0645\u062b\u0644 \u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u062d\u0644\u064a\u0629 \u0648\u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629\u060c \u0645\u0639 \u062a\u0642\u0633\u064a\u0645 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0623\u062c\u0646\u0628\u064a\u0629 \u0625\u0644\u0649 \u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u0629 \u0641\u064a \u0623\u0645\u0631\u064a\u0643\u0627 \u0627\u0644\u0634\u0645\u0627\u0644\u064a\u0629 \u0648\u0623\u0648\u0631\u0648\u0628\u0627 \u0648\u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0646\u0627\u0634\u0626\u0629 \u0648\u0645\u0627 \u0625\u0644\u0649 \u0630\u0644\u0643.<\/li>\n
  3. \u0627\u0644\u0639\u0645\u0644\u0629<\/strong>\u060c \u062a\u062a\u0648\u0627\u0641\u0642 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a \u0627\u0644\u062c\u063a\u0631\u0627\u0641\u064a\u0629 \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629 \u0645\u0639 \u0639\u0645\u0644\u0627\u062a \u0645\u062e\u062a\u0644\u0641\u0629.<\/li>\n<\/ol>\n

    \u062a\u0648\u062c\u062f \u062d\u0627\u0644\u064a\u064b\u0627 \u0628\u0639\u0636 \u0646\u0645\u0627\u0630\u062c \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0648\u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0648\u062c\u0648\u062f\u0629 \u0641\u064a \u0627\u0644\u0633\u0648\u0642. \u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 \u0627\u0644\u0631\u062c\u0648\u0639 \u0625\u0644\u0649 \u0646\u0645\u0627\u0630\u062c \u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0623\u0635\u0648\u0644 \u0644\u062f\u0649 \u0627\u0644\u0628\u0646\u0648\u0643 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0648\u0627\u0644\u0646\u0638\u0631 \u0641\u064a \u0643\u064a\u0641\u064a\u0629 \u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0623\u0635\u0648\u0644 \u0628\u0637\u0631\u064a\u0642\u0629 \u0623\u0643\u062b\u0631 \u062a\u0648\u0627\u0632\u0646\u0627\u064b \u0648\u0645\u0639\u0642\u0648\u0644\u0629 \u0648\u0645\u062a\u0646\u0648\u0639\u0629 \u0628\u0646\u0627\u0621\u064b \u0639\u0644\u0649 \u0638\u0631\u0648\u0641\u0647\u0627 \u0627\u0644\u062e\u0627\u0635\u0629.<\/p>\n

    \u0628\u0646\u0627\u0621 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0627\u062a \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631<\/h2>\n

    \u0628\u0639\u062f \u0635\u064a\u0627\u063a\u0629 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629\u060c \u064a\u062d\u062a\u0627\u062c \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0623\u064a\u0636\u064b\u0627 \u0625\u0644\u0649 \u0625\u062c\u0631\u0627\u0621 \u062a\u0639\u062f\u064a\u0644\u0627\u062a \u062a\u0643\u062a\u064a\u0643\u064a\u0629 \u0639\u0644\u0649 \u0645\u0631\u0627\u0643\u0632\u0647 \u0628\u0646\u0627\u0621\u064b \u0639\u0644\u0649 \u0627\u0644\u062a\u063a\u064a\u0631\u0627\u062a \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0648\u062f\u0627\u062e\u0644 \u0627\u0644\u0639\u0627\u0626\u0644\u0629.<\/p>\n

    For example, after the outbreak of the Russo-Ukrainian War this year, the family office's Chief Investment Officer (CIO) needs to analyze the macro market and consider whether the European financial sector will be impacted by the energy crisis and whether the family office should reduce its positions in that sector.<\/p>\n

    \u0648\u062a\u062c\u062f\u0631 \u0627\u0644\u0625\u0634\u0627\u0631\u0629 \u0625\u0644\u0649 \u0623\u0646 \u0645\u062f\u0631\u0627\u0621 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0641\u064a \u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 \u0644\u0627 \u064a\u0646\u062e\u0631\u0637\u0648\u0646 \u0639\u0627\u062f\u0629\u064b \u0641\u064a \u0639\u0645\u0644\u064a\u0627\u062a \u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u062c\u0630\u0631\u064a\u0629 \u0644\u0644\u063a\u0627\u064a\u0629. \u0641\u0628\u0645\u062c\u0631\u062f \u0648\u0636\u0639 \u0625\u0637\u0627\u0631 \u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0623\u0635\u0648\u0644\u060c \u064a\u0646\u0628\u063a\u064a \u0625\u062c\u0631\u0627\u0621 \u062a\u0639\u062f\u064a\u0644\u0627\u062a \u0637\u0641\u064a\u0641\u0629 \u0641\u0642\u0637 \u0639\u0644\u0649 \u0645\u062d\u0641\u0638\u0629 \u0627\u0644\u0623\u0635\u0648\u0644 \u0623\u062b\u0646\u0627\u0621 \u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u060c \u0648\u064a\u0646\u0628\u063a\u064a \u0623\u0644\u0627 \u062a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u062a\u0639\u062f\u064a\u0644\u0627\u062a \u062c\u0630\u0631\u064a\u0629 \u0648\u0627\u0633\u0639\u0629 \u0627\u0644\u0646\u0637\u0627\u0642 \u0639\u0644\u0649 \u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u062a\u064a \u062a\u0645\u062a \u0635\u064a\u0627\u063a\u062a\u0647\u0627 \u0645\u0633\u0628\u0642\u064b\u0627.<\/p>\n

    \"\u0635\u0648\u0631\u0629\"<\/p>\n

    Some families often compare the performance of the family office's secondary market with the performance of some “stock gods” and “well-known funds” in the market, which can cause a lot of trouble in the communication process between the family office CIO and the family. Therefore, \u0645\u0646 \u0627\u0644\u0645\u0647\u0645 \u062c\u062f\u064b\u0627 \u062a\u0648\u0636\u064a\u062d \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0627\u0644\u0645\u062a\u0648\u0642\u0639\u0629 \u0641\u064a \u0627\u0644\u0645\u0631\u062d\u0644\u0629 \u0627\u0644\u0645\u0628\u0643\u0631\u0629 \u0645\u0646 \u0625\u0646\u0634\u0627\u0621 \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a<\/strong>.<\/p>\n

    \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0639\u0627\u0626\u0644\u0627\u062a \u0641\u0627\u062d\u0634\u0629 \u0627\u0644\u062b\u0631\u0627\u0621\u060c \u0639\u0646\u062f \u062a\u062d\u062f\u064a\u062f \u0627\u0644\u0639\u0627\u0626\u062f \u0627\u0644\u0645\u0633\u062a\u0647\u062f\u0641 \u0644\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629\u060c \u064a\u062c\u0628 \u0627\u0644\u0646\u0638\u0631 \u0625\u0644\u064a\u0647 \u0645\u0646 \u0628\u0639\u062f\u064a\u0646 \u0631\u0626\u064a\u0633\u064a\u064a\u0646:<\/p>\n

    \u0623\u0648\u0644\u0627\u064b\u060c \u0627\u0644\u062a\u0648\u0642\u0639 \u0627\u0644\u0643\u0644\u064a \u0644\u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0623\u0635\u0648\u0644 \u062f\u0627\u062e\u0644 \u0627\u0644\u0623\u0633\u0631\u0629<\/strong> is an important factor affecting the expected returns of the family office's secondary market.<\/p>\n

    \"\u0635\u0648\u0631\u0629\"<\/p>\n

    For example, suppose a family is very active in the primary market, investing in many emerging industries and early-stage projects, and taking on higher investment risks. Therefore, in the allocation of the remaining funds, they should seek relatively safe and stable investments. In this case, the family's expectations for returns from the secondary market should not be too high.<\/p>\n

    \u062b\u0627\u0646\u064a\u0627\u064b. \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0643\u0644\u064a \u0627\u0644\u062e\u0627\u0631\u062c\u064a<\/strong>\u060c \u0623\u064a \u0623\u0646 \u0627\u0644\u0641\u062a\u0631\u0627\u062a \u0627\u0644\u062a\u0627\u0631\u064a\u062e\u064a\u0629 \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629 \u0648\u0627\u0644\u0645\u0646\u0627\u0637\u0642 \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629 \u0648\u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0633\u0648\u0642 \u0633\u062a\u0624\u062b\u0631 \u0623\u064a\u0636\u064b\u0627 \u0639\u0644\u0649 \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0627\u0644\u0645\u062a\u0648\u0642\u0639\u0629 \u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629.<\/p>\n

    \u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0639\u0627\u0626\u0644\u0629 \u0627\u0644\u062a\u064a \u062a\u062a\u0648\u0632\u0639 \u0635\u0646\u0627\u0639\u062a\u0647\u0627 \u0641\u064a \u0623\u0648\u0631\u0648\u0628\u0627\u060c \u064a\u062c\u0628 \u0623\u0646 \u064a\u0643\u0648\u0646 \u0644\u062f\u064a\u0647\u0627 \u0641\u0647\u0645 \u0644\u0644\u0633\u0648\u0642 \u0627\u0644\u0645\u062d\u0644\u064a\u0629 \u0639\u0646\u062f \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0641\u064a \u0623\u0648\u0631\u0648\u0628\u0627. \u0639\u0644\u0649 \u0645\u062f\u0649 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0642\u0644\u064a\u0644\u0629 \u0627\u0644\u0645\u0627\u0636\u064a\u0629\u060c \u0643\u0627\u0646 \u0623\u062f\u0627\u0621 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0627\u0644\u0623\u0648\u0631\u0648\u0628\u064a\u0629 \u0636\u0639\u064a\u0641\u064b\u0627 \u0648\u0644\u0645 \u064a\u0643\u0646 \u0628\u0646\u0641\u0633 \u0642\u0648\u0629 \u0633\u0648\u0642 \u0627\u0644\u0623\u0633\u0647\u0645 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629. \u0648\u064a\u0631\u062a\u0628\u0637 \u0647\u0630\u0627 \u0623\u064a\u0636\u064b\u0627 \u0627\u0631\u062a\u0628\u0627\u0637\u064b\u0627 \u0648\u062b\u064a\u0642\u064b\u0627 \u0628\u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0623\u0648\u0631\u0648\u0628\u064a.<\/p>\n

    The family office CIO should synthesize the family's internal expectations for returns in the secondary market along with the external macro environment, \u0636\u0645\u0627\u0646 \u0623\u0646 \u062a\u0643\u0648\u0646 \u0623\u0647\u062f\u0627\u0641 \u0639\u0627\u0626\u062f \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0636\u0645\u0646 \u0646\u0637\u0627\u0642 \u0645\u0639\u0642\u0648\u0644 \u0646\u0633\u0628\u064a\u064b\u0627<\/strong>.<\/p>\n

    \u062a\u062d\u062f\u064a\u062f \u0623\u0647\u062f\u0627\u0641 \u062f\u062e\u0644 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631<\/h2>\n

    \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0623\u0633\u0631\u0629\u060c \u0641\u064a \u0627\u0644\u063a\u0627\u0644\u0628\u064a\u0629 \u0627\u0644\u0639\u0638\u0645\u0649 \u0645\u0646 \u0627\u0644\u062d\u0627\u0644\u0627\u062a\u060c \u064a\u0643\u0648\u0646 \u062a\u062d\u0645\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0641\u064a \u0646\u0637\u0627\u0642 \u0645\u0639\u064a\u0646. \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0645\u062f\u064a\u0631 \u0627\u0644\u062a\u0646\u0641\u064a\u0630\u064a \u0644\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u060c \u0644\u0627 \u064a\u062c\u0648\u0632 \u0639\u0644\u0649 \u0627\u0644\u0625\u0637\u0644\u0627\u0642 \u0623\u0646 \u064a\u0633\u0645\u062d \u0644\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0628\u062a\u062d\u0645\u0644 \u0645\u062e\u0627\u0637\u0631 \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u062a\u062a\u062c\u0627\u0648\u0632 \u0642\u062f\u0631\u062a\u0647\u0627 \u0639\u0644\u0649 \u062a\u062d\u0645\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631<\/strong>.<\/p>\n

    \u0639\u0646\u062f \u062a\u062d\u062f\u064a\u062f \u0645\u062f\u0649 \u062a\u062d\u0645\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631\u060c \u064a\u062c\u0628 \u0639\u0644\u0649 \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0623\u0646 \u064a\u0623\u062e\u0630 \u0628\u0639\u064a\u0646 \u0627\u0644\u0627\u0639\u062a\u0628\u0627\u0631 \u062c\u0627\u0646\u0628\u064a\u0646 \u0631\u0626\u064a\u0633\u064a\u064a\u0646:<\/p>\n

    \u0623\u0648\u0644\u0627\u064b\u060c \u062a\u0648\u0636\u064a\u062d \u0646\u0637\u0627\u0642 \u0627\u0644\u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u064a\u0648\u0645\u064a\u0629 \u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629<\/strong>\u0648\u0627\u0644\u062a\u064a \u0633\u062a\u0643\u0648\u0646 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0645\u0631\u062a\u0627\u062d\u0629 \u0646\u0633\u0628\u064a\u064b\u0627 \u0645\u0639\u0647\u0627.<\/p>\n

    \u0628\u0634\u0643\u0644 \u0639\u0627\u0645\u060c \u0641\u0625\u0646 \u0646\u0637\u0627\u0642 \u0627\u0644\u062a\u0630\u0628\u0630\u0628 \u0627\u0644\u064a\u0648\u0645\u064a \u0627\u0644\u0630\u064a \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u062a\u062d\u0645\u0644\u0647 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0644\u064a\u0633 \u0647\u0648 \u0627\u0644\u0631\u0642\u0645 \u0627\u0644\u0630\u064a \u062a\u0630\u0643\u0631\u0647 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0634\u0641\u0647\u064a\u064b\u0627. The CIO needs to actively observe the family's response after market fluctuations to truly understand the family's risk tolerance<\/strong>. \u062e\u0644\u0627\u0644 \u0647\u0630\u0647 \u0627\u0644\u0639\u0645\u0644\u064a\u0629\u060c \u0633\u062a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u0641\u062a\u0631\u0629 \u0645\u0639\u064a\u0646\u0629 \u0645\u0646 \u0627\u0644\u062c\u0631\u064a \u0628\u064a\u0646 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0648\u0627\u0644\u0639\u0627\u0626\u0644\u0629.<\/p>\n

    \"\u0635\u0648\u0631\u0629\"<\/p>\n

    For example, even in the bullish U.S. stock market of 2021, the largest drop was 6% to 7%. During market fluctuations, the family office's Chief Investment Officer (CIO) needs to observe the family's performance, that is, whether the family is panicked and whether they put pressure on the CIO, in order to clarify the family's investment mentality.<\/p>\n

    \u062b\u0627\u0646\u064a\u0627\u064b\u060c \u064a\u062d\u062a\u0627\u062c \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0625\u0644\u0649 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0645\u0633\u0628\u0642\u0627\u064b<\/strong> about the family's risk tolerance under extreme circumstances.<\/p>\n

    \u0633\u062a\u0648\u0627\u062c\u0647 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u062d\u062a\u0645\u064b\u0627 \u0628\u0639\u0636 \u0627\u0644\u0645\u0648\u0627\u0642\u0641 \u0627\u0644\u0645\u062a\u0637\u0631\u0641\u0629. \u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c \u0641\u064a \u0627\u0644\u0646\u0635\u0641 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645\u060c \u0627\u0646\u062e\u0641\u0636\u062a \u0633\u0648\u0642 \u0627\u0644\u0623\u0633\u0647\u0645 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0641\u064a \u0627\u0644\u0646\u0635\u0641 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645 \u0628\u0623\u0643\u062b\u0631 \u0645\u0646 201 \u062a\u064a\u0631\u0627\u0628\u0627\u064a\u062a \u064812 \u062a\u064a\u0631\u0627\u0628\u0627\u064a\u062a\u060c \u0645\u0645\u0627 \u0623\u062f\u0649 \u0625\u0644\u0649 \u062a\u0642\u0644\u0628\u0627\u062a \u0634\u062f\u064a\u062f\u0629 \u0641\u064a \u0627\u0644\u0633\u0648\u0642. \u064a\u062d\u062a\u0627\u062c \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0625\u0644\u0649 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0628\u0648\u0636\u0648\u062d \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u062d\u0648\u0644 \u0645\u062f\u0649 \u062a\u062d\u0645\u0644\u0647\u0645 \u0644\u0644\u0645\u062e\u0627\u0637\u0631 \u0641\u064a \u0627\u0644\u062d\u0627\u0644\u0627\u062a \u0627\u0644\u0642\u0635\u0648\u0649 \u0648\u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u062e\u0644\u0627\u0644 \u0627\u0644\u0623\u0648\u0642\u0627\u062a \u0627\u0644\u0642\u0635\u0648\u0649.<\/p>\n

    \"\u0635\u0648\u0631\u0629\"<\/p>\n

    \"\u0645\u0646 \u0628\u064a\u0646 \u0647\u0630\u0647 \u0627\u0644\u0623\u0645\u0648\u0631 \u062a\u0648\u0639\u064a\u0629 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0623\u0645\u0631 \u0628\u0627\u0644\u063a \u0627\u0644\u0623\u0647\u0645\u064a\u0629. \u064a\u062c\u0628 \u0639\u0644\u0649 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0623\u0646 \u064a\u062a\u0648\u0627\u0635\u0644 \u0628\u0648\u0636\u0648\u062d \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0645\u0633\u0628\u0642\u064b\u0627\u060c \u0641\u064a \u0625\u0637\u0627\u0631 \u0641\u0644\u0633\u0641\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0637\u0648\u064a\u0644 \u0627\u0644\u0623\u062c\u0644\u060c \u0623\u0646\u0647 \u062d\u062a\u0649 \u0641\u064a \u0627\u0644\u0641\u062a\u0631\u0627\u062a \u0627\u0644\u0633\u064a\u0626\u0629 \u0644\u0644\u063a\u0627\u064a\u0629\u060c \u0637\u0627\u0644\u0645\u0627 \u062a\u0645 \u062a\u062e\u0635\u064a\u0635 \u0627\u0644\u0623\u0635\u0648\u0644 \u0628\u0634\u0643\u0644 \u0635\u062d\u064a\u062d\u060c \u0641\u0625\u0646 \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0633\u062a\u062d\u0642\u0642 \u0641\u064a \u0646\u0647\u0627\u064a\u0629 \u0627\u0644\u0645\u0637\u0627\u0641 \u0623\u062f\u0627\u0621\u064b \u0623\u0641\u0636\u0644 \u0628\u0645\u0631\u0648\u0631 \u0627\u0644\u0648\u0642\u062a.\"<\/p>\n

    \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0645\u062f\u0631\u0627\u0621 \u062a\u0643\u0646\u0648\u0644\u0648\u062c\u064a\u0627 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0641\u064a \u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629\u060c \u064a\u062a\u0645 \u0628\u0646\u0627\u0621 \u0639\u0644\u0627\u0642\u0629 \u062b\u0642\u0629 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0628\u0634\u0643\u0644 \u0623\u0633\u0627\u0633\u064a \u0645\u0646 \u062e\u0644\u0627\u0644 \u0637\u0631\u064a\u0642\u062a\u064a\u0646 \u0631\u0626\u064a\u0633\u064a\u062a\u064a\u0646:<\/p>\n

    \u0623\u0648\u0644\u0627\u064b\u060c \u0645\u0633\u0627\u0639\u062f\u0629 \u0627\u0644\u0623\u0633\u0631\u0629 \u0639\u0644\u0649 \u062a\u0623\u0633\u064a\u0633 \u0641\u0644\u0633\u0641\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0635\u062d\u064a\u062d\u0629<\/strong>.<\/p>\n

    \u0625\u0630\u0627 \u0644\u0645 \u064a\u0633\u0628\u0642 \u0644\u0644\u0639\u0627\u0626\u0644\u0629 \u0623\u0646 \u062e\u0635\u0635\u062a \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a\u0647\u0627 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629\u060c \u0641\u064a\u062c\u0628 \u0639\u0644\u0649 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0623\u0646 \u064a\u062e\u0635\u0635 \u0648\u0642\u062a\u064b\u0627 \u0644\u0645\u0633\u0627\u0639\u062f\u0629 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0639\u0644\u0649 \u0641\u0647\u0645 \u062e\u0635\u0627\u0626\u0635 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0648\u0648\u0636\u0639 \u0641\u0644\u0633\u0641\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0635\u062d\u064a\u062d\u0629.<\/p>\n

    \u0645\u0646 \u0628\u064a\u0646\u0647\u0627\u060c \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 \u0627\u0644\u062a\u064a \u062a\u0648\u0627\u062c\u0647 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0639\u0627\u0644\u0645\u064a\u0629\u060c \u0641\u0625\u0646 \u0627\u0644\u062a\u0646\u0648\u064a\u0639 \u0627\u0644\u0645\u0639\u0642\u0648\u0644 \u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0623\u0645\u0631 \u0645\u0647\u0645 \u0628\u0634\u0643\u0644 \u062e\u0627\u0635. \u0648\u0633\u0648\u0627\u0621 \u0643\u0627\u0646 \u0628\u0627\u0641\u064a\u062a \u0623\u0648 \u062f\u0627\u0644\u064a\u0648\u060c \u0641\u0625\u0646\u0647\u0645\u0627 \u0644\u0645 \u064a\u0635\u0628\u062d\u0627 \u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0646\u0627\u062c\u062d\u064a\u0646 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0645\u0636\u0627\u0631\u0628\u0629 \u0639\u0644\u0649 \u0627\u0644\u0623\u0633\u0647\u0645 \u0627\u0644\u0641\u0631\u062f\u064a\u0629. \u0639\u0644\u0649 \u0627\u0644\u0645\u062f\u0649 \u0627\u0644\u0637\u0648\u064a\u0644\u060c \u0641\u0625\u0646 \u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0645\u0636\u0627\u0631\u0628\u0629 \u0639\u0644\u0649 \u0627\u0644\u0623\u0633\u0647\u0645 \u0627\u0644\u0641\u0631\u062f\u064a\u0629 \u0645\u0631\u062a\u0641\u0639\u0629 \u0644\u0644\u063a\u0627\u064a\u0629.<\/p>\n

    \u062a\u0648\u0636\u064a\u062d \u0645\u0633\u062a\u0648\u0649 \u062a\u062d\u0645\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631<\/h2>\n

    \u062b\u0627\u0646\u064a\u0627\u064b \u0627\u0644\u062a\u0645\u0633\u0643 \u0628\u0627\u0644\u0645\u062f\u0649 \u0627\u0644\u0637\u0648\u064a\u0644<\/strong><\/p>\n

    \u0623\u062d\u062f \u0627\u0644\u062a\u062d\u062f\u064a\u0627\u062a \u0627\u0644\u0643\u0628\u064a\u0631\u0629 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0647\u0648 \u0627\u0644\u062a\u0630\u0628\u0630\u0628 \u0627\u0644\u0645\u0633\u062a\u0645\u0631 \u0641\u064a \u0635\u0627\u0641\u064a \u0642\u064a\u0645\u0629 \u0627\u0644\u062d\u0633\u0627\u0628\u0627\u062a. \u0648\u0628\u063a\u0636 \u0627\u0644\u0646\u0638\u0631 \u0639\u0645\u0627 \u0625\u0630\u0627 \u0643\u0627\u0646 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0623\u0648 \u0623\u0641\u0631\u0627\u062f \u0627\u0644\u0639\u0627\u0626\u0644\u0629\u060c \u0641\u0625\u0646 \u0627\u0644\u0639\u0642\u0644\u064a\u0629 \u0633\u062a\u062a\u063a\u064a\u0631 \u0639\u0646\u062f\u0645\u0627 \u064a\u0631\u0648\u0646 \u0627\u0644\u062a\u0630\u0628\u0630\u0628 \u0641\u064a \u0635\u0627\u0641\u064a \u0627\u0644\u0642\u064a\u0645\u0629.<\/p>\n

    \u0623\u0645\u0627 \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0639\u0627\u0626\u0644\u0627\u062a \u0627\u0644\u062a\u064a \u062a\u0641\u062a\u0642\u0631 \u0625\u0644\u0649 \u0627\u0644\u062e\u0628\u0631\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629\u060c \u0641\u0625\u0646 \u0627\u0644\u062a\u063a\u064a\u0631 \u0627\u0644\u0639\u0627\u0637\u0641\u064a \u0641\u064a \u0645\u0648\u0627\u062c\u0647\u0629 \u0627\u0644\u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0643\u0628\u064a\u0631\u0629 \u0641\u064a \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0635\u0627\u0641\u064a\u0629 \u064a\u0643\u0648\u0646 \u0643\u0628\u064a\u0631\u064b\u0627\u060c \u0645\u0645\u0627 \u064a\u0624\u062f\u064a \u0625\u0644\u0649 \u0627\u0644\u062a\u0634\u0643\u064a\u0643 \u0641\u064a \u0627\u0644\u0645\u062f\u064a\u0631\u064a\u0646 \u0627\u0644\u0645\u062d\u062a\u0631\u0641\u064a\u0646. \u0648\u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0645\u062f\u0631\u0627\u0621 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0641\u064a \u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629\u060c \u0625\u0630\u0627 \u0643\u0627\u0646\u062a \u0627\u0644\u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0639\u0627\u0637\u0641\u064a\u0629 \u0643\u0628\u064a\u0631\u0629 \u062c\u062f\u064b\u0627 \u0641\u064a \u0645\u0648\u0627\u062c\u0647\u0629 \u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0633\u0648\u0642\u060c \u0641\u0633\u062a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u0623\u064a\u0636\u064b\u0627 \u0645\u0634\u0627\u0643\u0644 \u0645\u0639\u064a\u0646\u0629 \u0641\u064a \u0639\u0645\u0644\u064a\u0627\u062a \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631.<\/p>\n

    \"\u0635\u0648\u0631\u0629\"<\/p>\n

    \u0644\u0627 \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 \u0623\u0646 \u062a\u0647\u062f\u0623 \u0648\u062a\u0633\u062a\u062b\u0645\u0631 \u0625\u0644\u0627 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0627\u0644\u062a\u0632\u0627\u0645 \u0628\u0627\u0644\u0646\u0632\u0639\u0629 \u0637\u0648\u064a\u0644\u0629 \u0627\u0644\u0623\u062c\u0644. \u0648\u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0639\u0627\u0626\u0644\u0627\u062a\u060c \u064a\u0646\u0628\u063a\u064a \u0644\u0647\u0627 \u0623\u0646 \u062a\u0642\u0627\u0631\u0646 \u0627\u0644\u0639\u0648\u0627\u0626\u062f \u0628\u0634\u0643\u0644 \u0639\u0644\u0645\u064a \u0639\u0644\u0649 \u0623\u0633\u0627\u0633 \u062f\u0648\u0631\u0629 \u0646\u0635\u0641 \u0633\u0646\u0629 \u0648\u0633\u0646\u0629 \u0648\u0633\u0646\u062a\u064a\u0646\u060c \u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0627\u0644\u0627\u0647\u062a\u0645\u0627\u0645 \u0627\u0644\u0645\u0641\u0631\u0637 \u0628\u062a\u0642\u0644\u0628 \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0635\u0627\u0641\u064a\u0629 \u0644\u062d\u0633\u0627\u0628\u0627\u062a\u0647\u0627 \u0643\u0644 \u064a\u0648\u0645 \u0648\u0643\u0644 \u0623\u0633\u0628\u0648\u0639.<\/p>\n

    For family offices that are initially trying to invest in the secondary market, the family office CIO should gradually help the family get used to the volatility of the secondary market. Subsequently, as the family's investment in the secondary market increases, they can also better adapt to the changes in returns brought about by fluctuations.<\/p>\n

    \"\u0635\u0648\u0631\u0629\"<\/p>\n

    \u0645\u0646 \u0645\u0646 \u0648\u062c\u0647\u0629 \u0646\u0638\u0631 \u0645\u062f\u064a\u0631\u064a \u0627\u0644\u0623\u0635\u0648\u0644\u060c \u062a\u0646\u0639\u0643\u0633 \u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0639\u0644\u0649 \u0627\u0644\u062d\u0633\u0627\u0628\u0627\u062a \u0641\u064a \u0646\u0641\u0633 \u0627\u0644\u064a\u0648\u0645. \u0648\u0644\u0630\u0644\u0643\u060c \u0641\u0625\u0646 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0628\u064a\u0646 \u0643\u0628\u0627\u0631 \u0635\u0627\u0646\u0639\u064a \u0627\u0644\u0642\u0631\u0627\u0631 \u0641\u064a \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0648\u0623\u0641\u0631\u0627\u062f \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0623\u0645\u0631 \u0645\u0647\u0645 \u0644\u0644\u063a\u0627\u064a\u0629.<\/p>\n

    \u062e\u0644\u0627\u0644 \u0627\u0644\u0641\u062a\u0631\u0627\u062a \u0627\u0644\u062a\u064a \u064a\u0643\u0648\u0646 \u0641\u064a\u0647\u0627 \u0627\u0644\u0623\u062f\u0627\u0621 \u0627\u0644\u0639\u0627\u0645 \u0644\u0644\u0633\u0648\u0642 \u0636\u0639\u064a\u0641\u064b\u0627<\/strong>, for example, when the S&P 500 index has a cumulative decline of more than 20% in the first half of the year, assuming that the family office's account has incurred a 16% loss, this figure has actually outperformed the overall macro market, but it is still a substantial loss on the books.<\/p>\n

    \u0625\u0630\u0627 \u0644\u0645 \u064a\u0643\u0646 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0628\u064a\u0646 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0648\u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0633\u0644\u0633\u064b\u0627<\/strong>, and the family's understanding of the secondary market is not particularly profound, they will think that the family office's risk control is not in place and there are certain problems with investment management<\/strong>\u060c \u0648\u0644\u0646 \u064a\u0643\u0648\u0646\u0648\u0627 \u0642\u0627\u062f\u0631\u064a\u0646 \u0639\u0644\u0649 \u0642\u0628\u0648\u0644 \u062e\u0633\u0627\u0631\u0629 16% \u0641\u064a \u0627\u0644\u062f\u0641\u0627\u062a\u0631.<\/p>\n

    \u064a\u0644\u0639\u0628 \u0631\u0626\u064a\u0633 \u0642\u0633\u0645 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0641\u064a \u0627\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u062f\u0648\u0631\u064b\u0627 \u062d\u0627\u0633\u0645\u064b\u0627 \u0641\u064a \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629\u060c \u0648\u0647\u0646\u0627\u0643 \u062b\u0644\u0627\u062b \u0646\u0642\u0627\u0637 \u0631\u0626\u064a\u0633\u064a\u0629 \u064a\u062c\u0628 \u0645\u0631\u0627\u0639\u0627\u062a\u0647\u0627:<\/p>\n

      \n
    1. \u062a\u0642\u0639 \u0639\u0644\u0649 \u0639\u0627\u062a\u0642 \u0627\u0644\u0645\u062f\u064a\u0631 \u0627\u0644\u062a\u0646\u0641\u064a\u0630\u064a \u0644\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0645\u0633\u0624\u0648\u0644\u064a\u0629 \u062a\u0648\u062c\u064a\u0647 \u0623\u0648 \u062a\u062b\u0642\u064a\u0641 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0644\u062a\u0639\u0645\u064a\u0642 \u0641\u0647\u0645\u0647\u0627 \u0644\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629.<\/li>\n
    2. \u064a\u062d\u062a\u0627\u062c \u0627\u0644\u0645\u062f\u064a\u0631 \u0627\u0644\u062a\u0646\u0641\u064a\u0630\u064a \u0644\u0644\u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0625\u0644\u0649 \u0627\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0627\u0644\u0645\u0646\u062a\u0638\u0645 \u0648\u0627\u0644\u0645\u0633\u062a\u0645\u0631 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629.<\/li>\n<\/ol>\n

      The secondary market is closely linked to macroeconomic factors, and stock prices can change rapidly. In this process, the CIO of a family office needs to keep the family members informed of market changes through timely communication, ensuring that the family's overall judgment of the market is always aligned with that of the CIO.<\/p>\n

      \u0628\u0646\u0627\u0621 \u0639\u0644\u0627\u0642\u0627\u062a \u0627\u0644\u062b\u0642\u0629<\/h2>\n

      \u0641\u064a\u0645\u0627 \u064a\u062a\u0639\u0644\u0642 \u0628\u0623\u0633\u0627\u0644\u064a\u0628 \u0627\u0644\u062a\u0648\u0627\u0635\u0644\u060c \u064a\u062c\u0628 \u0639\u0644\u0649 \u0645\u062f\u064a\u0631\u064a \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0625\u0628\u0644\u0627\u063a \u0627\u0644\u0623\u0633\u0631\u0629 \u0628\u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0645\u0648\u062c\u0648\u062f\u0629 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0641\u064a \u0628\u062f\u0627\u064a\u0629 \u0627\u0644\u062a\u0639\u0627\u0648\u0646\u060c \u0648\u063a\u0631\u0633 \u0648\u062a\u0646\u0645\u064a\u0629 \u0639\u0642\u0644\u064a\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0637\u0648\u064a\u0644 \u0627\u0644\u0623\u062c\u0644 \u0641\u064a \u0627\u0644\u0623\u0633\u0631\u0629 \"\u0628\u0642\u0648\u0629\".<\/p>\n

      \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0639\u0627\u0626\u0644\u0629\u060c \u0625\u0630\u0627 \u0644\u0645 \u064a\u062a\u0645 \u062a\u0623\u0633\u064a\u0633 \u0641\u0644\u0633\u0641\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0635\u062d\u064a\u062d\u0629 \u0641\u064a \u0648\u0642\u062a \u0645\u0628\u0643\u0631\u060c \u0648\u0627\u0639\u062a\u0642\u062f\u0648\u0627 \u0623\u0646 \u0627\u0644\u062a\u062e\u0635\u064a\u0635 \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629 \u0647\u0648 \u0645\u062c\u0631\u062f \u0625\u064a\u062c\u0627\u062f \u0645\u062a\u062f\u0627\u0648\u0644 \u0644\u0644\u0645\u0636\u0627\u0631\u0628\u0629 \u0641\u064a \u0627\u0644\u0623\u0633\u0647\u0645\u060c \u0641\u0633\u062a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u0628\u0627\u0644\u062a\u0623\u0643\u064a\u062f \u0645\u0634\u0627\u0643\u0644 \u0643\u062b\u064a\u0631\u0629 \u0641\u064a \u062a\u0648\u0627\u0635\u0644\u0647\u0645 \u0627\u0644\u0645\u0633\u062a\u0642\u0628\u0644\u064a \u0645\u0639 \u0645\u062f\u064a\u0631 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631.<\/p>\n

      \"\u0635\u0648\u0631\u0629\"<\/p>\n

      \u0641\u064a \u0627\u0644\u0648\u0627\u0642\u0639\u060c \u0647\u0646\u0627\u0643 \u0641\u062a\u0631\u0629 \u0645\u0639\u064a\u0646\u0629 \u0645\u0646 \u0627\u0644\u062a\u0643\u064a\u0641 \u0639\u0646\u062f\u0645\u0627 \u064a\u062a\u0639\u0627\u0648\u0646 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629\u060c \u0648\u0627\u0644\u062a\u064a \u064a\u0645\u0643\u0646 \u062a\u0642\u0633\u064a\u0645\u0647\u0627 \u0639\u0644\u0649 \u0648\u062c\u0647 \u0627\u0644\u062a\u062d\u062f\u064a\u062f \u0625\u0644\u0649 \u062a\u0639\u062f\u064a\u0644\u0627\u062a \u0637\u0641\u064a\u0641\u0629 \u0648\u0623\u062e\u0631\u0649 \u0643\u0628\u064a\u0631\u0629:<\/p>\n

      \u062a\u0639\u062f\u064a\u0644\u0627\u062a \u0637\u0641\u064a\u0641\u0629<\/strong> refer to the experience of market fluctuations, without a specific number indicating how much it has increased or decreased. When the family and the family office CIO have experienced the market's ups and downs together, \u0628\u0639\u062f \u0623\u0646 \u0643\u0633\u0628\u0648\u0627 \u0623\u0645\u0648\u0627\u0644\u0627\u064b \u0648\u062e\u0633\u0631\u0648\u0627 \u0623\u0645\u0648\u0627\u0644\u0627\u064b\u060c \u0641\u0642\u062f \u062e\u0636\u0639\u0648\u0627 \u0644\u062a\u0639\u062f\u064a\u0644\u0627\u062a \u0637\u0641\u064a\u0641\u0629<\/strong>. \u0641\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u062b\u0627\u0646\u0648\u064a\u0629\u060c \u0645\u0646 \u0627\u0644\u0646\u0627\u062f\u0631 \u0623\u0646 \u062a\u0631\u062a\u0641\u0639 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0641\u0642\u0637 \u0623\u0648 \u062a\u0646\u062e\u0641\u0636 \u0641\u0642\u0637 \u0641\u064a \u063a\u0636\u0648\u0646 \u0628\u0636\u0639\u0629 \u0623\u0634\u0647\u0631. \u0648\u0644\u0630\u0644\u0643\u060c \u064a\u0645\u0643\u0646 \u0623\u0646 \u064a\u0645\u0631 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0648\u0627\u0644\u0623\u0633\u0631\u0629 \u0628\u0641\u062a\u0631\u0629 \u062a\u0639\u062f\u064a\u0644 \u0637\u0641\u064a\u0641\u0629 \u0641\u064a \u063a\u0636\u0648\u0646 \u0628\u0636\u0639\u0629 \u0623\u0634\u0647\u0631.<\/p>\n

      \"\u0635\u0648\u0631\u0629\"<\/p>\n

      \u0641\u064a \u0638\u0644 \u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0633\u0648\u0642\u060c \u0644\u0646 \u064a\u0648\u0627\u062c\u0647 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u062a\u0648\u0627\u0635\u0644 \u0627\u0644\u0645\u0633\u062a\u0645\u0631 \u0645\u0639 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0645\u0634\u0627\u0643\u0644 \u0643\u0628\u064a\u0631\u0629 \u0628\u0634\u0643\u0644 \u0639\u0627\u0645. \u062e\u0644\u0627\u0644 \u0639\u0645\u0644\u064a\u0629 \u0627\u0644\u062a\u0648\u0627\u0635\u0644\u060c \u064a\u062d\u062a\u0627\u062c \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0625\u0644\u0649 \u0623\u0646 \u064a\u0634\u0639\u0631 \u0623\u0641\u0631\u0627\u062f \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0628\u0623\u0646\u0647\u0645 \u0639\u0644\u0649 \u0646\u0641\u0633 \u0627\u0644\u062c\u0627\u0646\u0628\u060c \u0648\u0623\u0646 \u064a\u062c\u0639\u0644 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u062a\u0639\u062a\u0642\u062f \u0623\u0646 \u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0644\u062f\u064a\u0647 \u0645\u0627 \u064a\u0643\u0641\u064a \u0645\u0646 \u0627\u0644\u0645\u0647\u0646\u064a\u0629 \u0648\u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u062a\u062d\u0645\u0644 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0644\u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0645\u062d\u0641\u0638\u0629 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0628\u0634\u0643\u0644 \u062c\u064a\u062f.<\/p>\n

      - \u0627\u062d\u062a\u0643\u0627\u0643 \u0643\u0628\u064a\u0631<\/strong>\u060c \u0623\u064a \u0623\u0646 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0648\u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0627\u0626\u0644\u064a \u0642\u062f \u0645\u0631\u0648\u0627 \u0628\u062f\u0648\u0631\u0629 \u0633\u0648\u0642 \u0643\u0627\u0645\u0644\u0629 \u0645\u0639\u064b\u0627\u060c \u062d\u064a\u062b \u0645\u0631\u0648\u0627 \u0628\u0633\u0648\u0642 \u0647\u0627\u0628\u0637\u0629 \u0648\u0631\u0643\u0648\u062f \u0627\u0642\u062a\u0635\u0627\u062f\u064a \u0648\u0627\u0646\u062a\u0639\u0627\u0634 \u0627\u0642\u062a\u0635\u0627\u062f\u064a.<\/p>\n

      \u0648\u062a\u062c\u062f\u0631 \u0627\u0644\u0625\u0634\u0627\u0631\u0629 \u0625\u0644\u0649 \u0623\u0646\u0647 \u062e\u0644\u0627\u0644 \u0627\u0644\u0639\u0642\u062f \u0627\u0644\u0645\u0627\u0636\u064a\u060c \u0644\u0645 \u064a\u0643\u0646 \u0647\u0646\u0627\u0643 \u0633\u0648\u0642 \u0647\u0627\u0628\u0637\u0629 \u0633\u064a\u0626\u0629 \u062d\u0642\u064b\u0627 \u0641\u064a \u0627\u0644\u0633\u0648\u0642. \u0648\u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u064a\u0629 \u0627\u0644\u0645\u0646\u0634\u0623\u0629 \u062d\u062f\u064a\u062b\u064b\u0627\u060c \u0641\u0645\u0646 \u0627\u0644\u0645\u062d\u062a\u0645\u0644 \u062c\u062f\u064b\u0627 \u0623\u0646 \u062a\u0643\u0648\u0646 \u0642\u062f \u0645\u0631\u062a \u0628\u0639\u0642\u062f \u0633\u0644\u0633 \u0648\u0644\u0645 \u062a\u0634\u0647\u062f \u0628\u0639\u062f \u0627\u0644\u062a\u0642\u0644\u0628\u0627\u062a \u0627\u0644\u0643\u0628\u064a\u0631\u0629 \u0641\u064a \u0627\u0644\u0633\u0648\u0642.<\/p>\n

      \u0644\u0642\u062f \u0634\u0647\u062f \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645 \u0638\u0631\u0648\u0641\u064b\u0627 \u0642\u0627\u0633\u064a\u0629 \u0641\u064a \u0627\u0644\u0633\u0648\u0642. \u0625\u0630\u0627 \u062a\u0645\u0643\u0646\u062a \u0627\u0644\u0623\u0633\u0631\u0629 \u0648\u0645\u062f\u064a\u0631 \u0645\u0643\u062a\u0628 \u0627\u0644\u0639\u0627\u0626\u0644\u0629 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644 \u0645\u0639\u064b\u0627 \u0644\u062a\u062c\u0627\u0648\u0632 \u0627\u0644\u0627\u0646\u0643\u0645\u0627\u0634 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u060c \u0641\u0625\u0646 \u0627\u0644\u0631\u0627\u0628\u0637\u0629 \u0627\u0644\u0645\u0633\u062a\u0642\u0628\u0644\u064a\u0629 \u0628\u064a\u0646 \u0627\u0644\u0637\u0631\u0641\u064a\u0646 \u0633\u062a\u0643\u0648\u0646 \u0623\u0642\u0648\u0649\u060c \u0648\u0633\u064a\u0643\u0648\u0646 \u0645\u0633\u062a\u0648\u0649 \u0627\u0644\u062b\u0642\u0629 \u0623\u0639\u0644\u0649.<\/p>\n

      \u0645\u0644\u0627\u062d\u0638\u0629: \u0627\u0644\u0645\u062d\u062a\u0648\u0649 \u0648\u0627\u0644\u0622\u0631\u0627\u0621 \u0627\u0644\u0645\u0630\u0643\u0648\u0631\u0629 \u0623\u0639\u0644\u0627\u0647 \u0647\u064a \u0644\u0644\u0625\u0634\u0627\u0631\u0629 \u0641\u0642\u0637 \u0648\u0644\u0627 \u062a\u0645\u062b\u0644 \u0623\u064a \u0645\u0648\u0642\u0641 \u0644\u0634\u0631\u0643\u062a\u0646\u0627. \u0648\u0644\u0627 \u062a\u0634\u0643\u0644 \u0646\u0635\u064a\u062d\u0629 \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629. \u064a\u0631\u062c\u0649 \u0627\u0644\u062a\u0639\u0627\u0645\u0644 \u0645\u0639\u0647\u0627 \u0628\u062d\u0630\u0631.<\/p>\n

      \u062b\u0644\u0627\u062b \u0646\u0642\u0627\u0637 \u0631\u0626\u064a\u0633\u064a\u0629 \u0644\u0644\u062a\u0648\u0627\u0635\u0644<\/h2>","protected":false},"excerpt":{"rendered":"

      Since the beginning of this year, influenced by the factors of macroeconomic uncertainty, some family offices (referred to as “family […]<\/p>","protected":false},"author":1,"featured_media":37782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[49],"tags":[],"class_list":["post-37783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fashion-and-design"],"acf":[],"_links":{"self":[{"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/posts\/37783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/comments?post=37783"}],"version-history":[{"count":0,"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/posts\/37783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/media\/37782"}],"wp:attachment":[{"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/media?parent=37783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/categories?post=37783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legacy.vertu.com\/ar\/wp-json\/wp\/v2\/tags?post=37783"}],"curies":[{"name":"\u0648\u0648\u0631\u062f\u0628\u0631\u064a\u0633","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}