英国普兹茅斯大学论文代写：套期保值
最近，套期保值的概念变得相当流行，这是因为它有助于投资者保护投资组合的未来价值。投资者可以采取对冲保护的组合销售价格（未来的投资组合包括债券、现金和股票）卖出期货合同金额相等（豪沙尔特2000）。它是通过期货或期权合约来对冲风险的。有一位以金融期货为对冲的期货合约导致增益，在目前的投资组合的损失补偿。
然而，一个必须采取短期立场，以对冲一个庞大的股票投资组合和短的位置必须是一个值，等于整个股票组合的大小。期权合同，当事人没有义务但有权出售或购买在约定的未来日期以固定价格（Chava 2007）。未来合同涉及消除机会的成本，但它们是规避风险的一种手段。交易者为了利用意外的上涨，宁愿选择期权来对冲风险。套期保值者将无法利用上升时卖出股票组合期货合约对他们的位置以保护他们的投资组合，而不是股票市场下跌（认为）它。因此，当投资者对未来的建议使用本合同的合同价值资产产生的结果。但是，通过期权进行套期保值被认为是昂贵的。这是因为它没有义务以固定的价格购买资产，同时也保护了下跌的损失，同时保持了上涨的可能性（盖伊1999）。这些公司可以通过使用衍生品来保护自己不受利率变动和证券价格变动的影响。银行和财政部经理积极使用利率衍生工具，它们被大量交易。
英国普兹茅斯大学论文代写：套期保值
In recent times, the concept of hedging has come out to quite popular, this is because of the fact that it assists the investors to protect against the portfolio’s future value. An investor could take out a hedge to protect the future price of sale of the portfolio (the portfolio contains bonds, cash and shares) by selling an equal amount of futures contract (Haushalter 2000). It is by means of future or options contracts that risk could be hedged. One has to take a positon in financial futures in order to hedge through future contracts which would result in a gain that would offset the loss in the present investment portfolio.
However, one has to take a short position so as to hedge a huge stock of portfolio and the short position has to be of a value which is equal to the size of the complete stock portfolio. Under the options contract, the party is not obligated but has the right to sell or buy on an agreed future date at a set price (Chava 2007). Future Contracts involve the cost of eliminating opportunity but they are a means of avoiding risk. A trader in order to take advantage of an unexpected upswing would prefer to hedge risk by means of options. Hedgers would not be able to take advantage of the upswing in case they sell future contracts of the equity portfolio against their position so as to guard their portfolio and instead of stock market going down (as thought) it goes up. Thus, when the investor is certain of the outcome of the future it is advisable to use future contracts as the contract fixates a value of an asset. But, hedging by means of options is regarded as expensive. This is because of the fact that it has no obligation to purchase asset at a fixed price and at the same time it protects downside loss while leaving the upswing probability open (Guay 1999). The firms could protect themselves against the interest rate movements and security price movements by using derivatives. Bank and treasury managers actively use the interest rate derivative and they are heavily traded by them.
