高手进来帮我翻译下下面这段话。有点长。多谢

Question

For the most part, investment by HNWIs in hedge funds
has been via the market for funds of hedge funds, which
dates back to the late 1960s. As early as 1969, Mees
Pierson launched its Leveraged Capital Holdings fund together with LCF Rothschild, which is still in existence
today and is generally recognized as the world’s first fund
of hedge funds.
The more recent explosion in sales of hedge funds to
HNWIs, however, is in large measure a reflection of the fact
that regulators in Continental Europe have until very
recently been hesitant about giving private investors
access to hedge funds. Recent legislation in Italy, for
example, has reduced the minimum net worth required of
investors to dabble in hedge funds from e1 million to
e500,000.
Germany has been even slower to open up the hedge
fund sector to individual investors. It was as recently as
January that the passage of the Investment Modernization Act allowed private investors in Europe’s largest economy
to channel some of their wealth into hedge funds. For the
time being, investors in Germany are permitted to invest
only in funds of hedge funds, rather than through direct
participation in individual funds. But that should be no
bar to the expansion of hedge funds in Germany.
According to a PriceWaterhouseCoopers report, some
experts have predicted that the German hedge fund
market could be worth as much as e50bn within five
years.

有点长。。麻烦高手翻译下。下面写不下就发到我邮箱[email protected]。谢谢

Answer 1

在大多数情况下，投资於对冲基金的高资产净值人士已通过市场的对冲基金的基金，其中追溯到20世纪60年代末。早在1969年，米斯皮尔逊推出了其杠杆资本控股的LCF洛希尔基金一起，这仍然存在今天是普遍公认的世界上第一只基金
对冲基金。最近爆发的销售对冲基金富裕人士，然而，在很大程度上反映了一个事实在欧洲大陆的监管机构已直到最近一直犹豫，让私人投资者进入对冲基金。最近的立法在意大利，例如，减少了所需的最低净值投资者涉足对冲基金从素E1万E500的，000。德国一直更慢开放对冲基金机构个人投资者。这是最近在
1月说，通过对投资现代化法案允许私人投资者在欧洲最大的经济体引导他们的财富成为一些对冲基金。对於目前，投资者在德国获准投资仅在对冲基金的基金，而不是通过直接在个别基金的参与。但是，这不应该酒吧的扩大，对冲基金在德国。据普华永道的报告，一些专家预测，德国对冲基金市场价值可能高达e50bn在5年。