After all, global funds faced a double whammy last year: Declining equity markets almost everywhere and a strengthening dollar that made foreign assets worth less to U.S. investors.

• 毕竟，全球股市去年面临着双重打击：一方面几乎所有地区股市都在不断下滑，另一方面美元不断升值也降低了海外资产对美国投资者的吸引力。