Losfh1
Lisusuh Onfm1
KM@IWVHHIU@
7303905773375
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7370
NFJG@W SFHBFU@M@H
G`ha`rg`ru, 76 J`rft
7370 Losfh,
F. Sfrfhe`h``h pfhyunum`h
D. Kfbi`t`h pfhyunum`h
H Kfbi`t`h Kfbi`t`h pfhyunum Kfbi`t`h pfsfrt` Jftolf Jfli` R`ktu
o.
N`ptop, 5 jfhit
0 Sfjguk` 0. Jfjgfri s`n`j 0. Jfha`w`g Efr`j`m
Sowfr
`h 7. Jfjpfrkfh`nk`h liri 7. Jfhlfhb`rk`h l`h
poiht l`h
5. Jfhihbk`tk`h r`s` ihbih 5. Jfhlfhb`rk`h \`hy`
`pnik`si
t`mu pfsfrt` tfht`hb <. Jfhyftuaui a`w`g
zooj
pfhtihbhy` pfhbbuh``h 6. Jfhlfhb`rk`h
jfftihb
@SL li tfjp`t kfra`.
<. Jfhy`jp`ik`h kohtr`k
w`ktu l`h tfjp`t
pfhyunum`h l`h jfh`hy`k`h
pfrsftuau`h pfsfrt`
6. Jfhy`jp`ik`h \IV l`h \IK
Sowfr poiht 9
7 Sfn`ks`h 0. Jfh`hy`k`h `p` y`hb 0. Jfha`w`g `.Efr`j`
``h likft`mui pfsfrt` jfhbfh`i 7. Jfhlfhb`rk`h m
f
pfhbfrti`h `n`t pfnihluhb 5. Jfha`w`g g.
h
liri (@SL). <. Jfhlfhb`rk`h Liskusi
i
7. Jfhafn`sk`h pfhbfrti`h `n`t 6. Jfha`w`g \`hy`
t
pfnihluhb liri (@SL). 4. Jfhlfhb`rk`h a`w`g
5. Jfh`hy`k`h `p` y`hb 2. Jfha`w`g e.Lfjoh
likft`mui pfsfrt` jfhbfh`i =. Jfhlfhb`rk`h s-
Afhis-afhis l`h duhbsi @SL 9. Gfrt`hy` tr`si
uhtuk libuh`k`h k`ry`w`h
p`grik.
<. Jfhafn`sk`h kfp`l` pfsfrt`
Afhis-afhis l`h duhbsi @SL
uhtuk libuh`k`h k`ry`w`h
p`grik.
6. Jfh`hy`k`h `p` y`hb
likft`mui pfsfrt` jfhbfh`i
j`hd``t l`h tuau`h
pfhbbuh``h @SL p`l`
k`ry`w`h p`grik.
4.Jfhafn`sk`h tfht`hb
j`hd``t l`h tuau`h pfhbbuh``h @SL p`l` k`ry`w`h p`grik.
2.Jfh`hy`k`h kfp`l` pfsfrt` jfhbfh`i Sfhtihbhy` pfhbbuh``h @SL p`l` k`ry`w`h s``t gfkfra` li p`
=.Jfhafn`sk`h kfp`l` pfsfrt` jfhbfh`i Sfhtihbhy` pfhbbuh``h @SL p`l` k`ry`w`h s``t gfkfra` li p
9.Jfjgfrik`h kfsfjp`t`h pfsfrt` uhtuk gfrt`hy` tfrk`it j`tfri y`hb
lis`jp`ik`h
B. J`tfri (n`jpir`h)
M. Fv`nu`si
0. Fv`nu`si struktur`n
7. Fv`nu`si prosfs
l. Kfm`lir`h pfsfrt` lim`r`pk`h jihij`n =3% l`h til`k `l` pfsfrt` y`hb
jfhihbb`nk`h tfjp`t pfhyunum`h sfn`j` kfbi`t`h gfrn`hbsuhb.
5. Fv`nu`si M`sin
I. Wfdfrfhsi
@rli`h N. (7309) Lftfrjih`h Kfp`tum`h Sfhbbuh``h @n`t Sfnihluhb Liri (@SL) p`l`
G`bi`h Sroluksi 0 Umidt 0 S\.]. VHFA. Kut`i \ijgfr Ihlohfsi` Kot` Srogonihbbo
L`my`r E.,S. (730=). Sfrin`ku pfhbbuh``h `n`t pfnihluhb liri p`l` pfkfra` S\. ].
Aurh`n Srojkfs Ton. 4 Ho. 7 Lfsfjgfr 730= 1 02= ― 0=2. VH@IW Uur`g`y`.
Sutr` L.,S. (7302).Sfhfr`p`h ihspfksi kfsfn`j`t`h l`h kfsfm`t`h kfra` sfg`b`i up`y`
pfhefb`m`h kfefn`k``h kfra`. Mibf`i aourh`n od pugnie mf`ntm rfsf`rem `hl
lfvfnopjfht. Vhivfrsit`s Hfbfri Ufj`r`hb.
U`ri L.,N. & Ism`ry`hto. (7302) @h`nisis d`ktor y`hb gfrmuguhb`h lfhb`h pfrin`ku
pfhfr`p`h kfsfn`j`t`h p`sifh p`l` pfr`w`t li ru`hb r`w`t ih`p WUVL k`gup`tfh
Uukom`rao. Srosilihb sfjih`r h`sioh`n m`sin pfhfniti`h l`h pfhb`gli`h gil`hb K5.
D`kunt`s Kfloktfr`h Vhivfrsit`s Ufgfn`s J`rft. Uur`k`rt`.
Q`m`r` W.,@. lkk (7302) Kfp`tum`h jfhbbuh`k`h @n`t pfnihluhb liri (@SL) litiha`u
l`ri pfhbft`mu`h l`h pfrin`ku p`l` pftub`s ihst`n`hsi pfjfnim`r``h s`r`h` l`h
pr`s`r`h` ruj`m s`kit (ISUWU). Aurh`n @isy`m 1 Aurh`n inju kfsfm`t`h 7(7) 7302,-
06<. Gfhbkunu.
jfnihluhbi kfp`n` l`ri risiko gfhtur`h, kfa`tum`h, tfrkfh` gfhl` t`a`j `t`u
gfhl` kfr`s, tfrp`p`r onfm r`li`si p`h`s, `pi, pfreik`h g`m`h-g`m`h kiji`,
jfnihluhbi
kfp`n` l`ri kotor`h lfgu, jfnihluhbi r`jgut l`ri g`m`y` tfrafr`t onfm jfsih-
jfsih y`hb gfrput`r, l`h pfrug`m`h sumu y`hb fkstrij. Afhis `n`t pfnihluhb
kfp`n` tfrliri l`ri mfnj pfhb`j`h (s`dfty mfnjft), topi `t`u tuluhb kfp`n`,
pfhutup `t`u pfhb`j`h r`jgut (m`ir e`p), l`h n`ih-n`ih.
@n`t pfnihluhb k`ki gfrduhbsi uhtuk jfnihluhbi k`ki pfkfra` l`ri g`m`y` y`hb
`l` li nihbkuhb`h kfra`hy` sfpfrti tfrtijp` `t`u gfrgfhtur`h lfhb`h gfhl`-gfhl`
gfr`t, tfrtusuk gfhl` t`a`j, tfrkfh` e`ir`h p`h`s `t`u lihbih, u`p p`h`s,
tfrp`a`h sumu y`hb fkstrij, tujp`m`h g`m`h kiji` gfrg`m`y` l`h a`s`l rfhik,
l`h tfrpnfsft. Afhis `n`t pfnihluhb k`ki gfrup` sfp`tu kfsfn`j`t`h p`l`
pfkfra``h pfnfgur`h, pfhbfeor`h nob`j, ihlustri, kohtruksi g`hbuh`h,
pfkfra``h y`hb gfrpotfhsi g`m`y` pfnfl`k`h, g`m`y` nistrik, tfjp`t kfra` y`hb
g`s`m `t`u nieih, g`m`h kiji` l`h a`s`l rfhik, sfrt` g`m`y` gih`t`hb.
2) S`k`i`h pfnihluhb
9) Sfn`jpuhb
Sfn`jpuhb gfrduhbsi jfnihluhbi pfhbbuh` y`hb gfkfra` li `t`s `ir `t`u
lipfrjuk``h `ir `b`r tfrmihl`r l`ri g`m`y` tfhbbfn`j l`h `t`u jfhb`tur
kftfr`puhb`h (guoy`hey) pfhbbuh` `b`r l`p`t gfr`l` p`l` posisi tfhbbfn`j
(hfb`tivf guoy`ht) `t`u jfn`y`hb (hfutr`n guoy`ht) li l`n`j `ir. Afhis pfn`jpuhb
tfrliri l`ri a`kft kfsfn`j`t`h (nidf a`ekft), rojpi kfsfn`j`t`h (nidf vfst), rojpi
pfhb`tur kftfr`puhb`h (Gouy`hey Eohtron Lfvief).