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Class: FIN 497 - INTERNSHIP IN FINANCE; Subject: Finance; University: Towson University; Term: Forever 1989;
Typology: Quizzes
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TERM 2
DEFINITION 2
TERM 3
DEFINITION 3 A type of BUNDLED FEE that can include any combination of INVESTMENT MAN- AGEMENT FEES, TRADING EXPENSES, CUSTODY FEES, and ADMINISTRATIVE FEES. ALL-IN-FEES are client specific and typically offered in certain jurisdictions where asset management, brokerage, and custody services are offered by the same company.(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 213).<vbk:9781256112754#page(213)> TERM 4
DEFINITION 4 The denominator of the return calculations and is defined as the weighted-average equity (weighted-average capital) during the measurement period. CAPITAL EMPLOYED does not include any INCOME RETURN or CAPITAL RETURN earned during the measurement period. Beginning capital is adjusted by weighting the EXTER- NAL CASH FLOWS that occurred during the period. (Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 214).<vbk:9781256112754#page(214)> TERM 5
DEFINITION 5
A portion of a PORTFOLIO that is by itself representative of a distinct investment strat- egy. It is used to create a track record for a narrower mandate from a multiple-strategy PORTFOLIO managed to a broader man- date. For periods beginning on or after 1 January 2010, a CARVE-OUT MUST be managed separately with its own cash balance.(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 214). <vbk:9781256112754#page(214)> TERM 7
DEFINITION 7 A type of investment vehicle where the num- ber of investors, total COMMITTED CAPI- TAL, and life are fixed and not open for subscriptions and/or redemptions. CLOSED- END FUNDS have a capital call (drawdown) process in place that is controlled by the GENERAL PARTNER.(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 214).<vbk:9781256112754#page(214)> TERM 8
DEFINITION 8 A presentation for a COMPOSITE that con- tains all the information REQUIRED by the GIPS standards and may also include ADDITIONAL INFORMATION or SUPPLE- MENTAL INFORMATION. (See Sample COMPLIANT PRESENTATIONS in Appen- dix 4A).(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 214).<vbk:9781256112754#page(214)> TERM 9
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DEFINITION 10 The fees payable to the custodian for the safekeeping of PORTFOLIO assets. CUS- TODY FEES are considered to be ADMINIS- TRATIVE FEES and typically contain an asset-based portion and a transaction-based portion. The CUSTODY FEE may also include charges for additional services, including accounting, securities lending, and/or performance measurement. Custo- dial fees that are charged per transaction SHOULD be included in the CUSTODY FEE and not included as part of TRADING EXPENSES.(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 215).
A measure of the spread of the annual returns of individual PORTFOLIOS within a COMPOSITE. Measures may include, but are not limited to, high/low, range, or STANDARD DEVIATION (asset weighted or equal weighted) of PORTFOLIO returns.(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 217). <vbk:9781256112754#page(217)> TERM 17
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DEFINITION 18 An investor in a LIMITED PARTNERSHIP. The GENERAL PARTNER is liable for the actions of the LIMITED PARTNERSHIP, and the LIMITED PARTNERS are generally protected from legal actions and any losses beyond their COMMITTED CAPITAL.(Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 218). <vbk:9781256112754#page(218)> TERM 19
DEFINITION 19 The legal structure used by most PRIVATE EQUITY and REAL ESTATE CLOSED-END FUNDS. LIMITED PARTNERSHIPS are usu- ally fixed life investment vehicles. The GEN- ERAL PARTNER manages the LIMITED PARTNERSHIP pursuant to the partnership agreement. (Level I 2012 Volume 1 Ethical and Professional Standards and Quantitative Methods, 7th Edition. Pearson Learning Solutions 218).<vbk:9781256112754#page(218)> TERM 20
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