When stock markets go down and institutions generally have less money,

当股票市场下跌和机构普遍缺乏资金时
they put less money in the class.

他们不会在此类资产中过多投入
When the markets get better,

如果市场回暖
they put more money,

他们会投入更多的资金
so it's not a straight line of growth;

所以它并不是一条笔直的增长线
it's a little wavy like that and I think that will continue.

而是具有波动性的且会长期持续
I think we're done.

今天就讲到这里吧