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4 Cards in this Set
- Front
- Back
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managed product
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a pool of capital gathered to buy securities according to a specific investment mandate. the pool seeds a fund managed by an investment professional that is paid a management fee to carry out the mandate.
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pooled account
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a type of managed product structure whereby investors' funds are gathered into a legal structure, usually a trust or corporation. an investors claim to the pool's returns is proportional to the number of shares or units the investor owns. the pools are often open-ended, which means units are issued when there are net cash inflows to the fund, or units are redeemed when there are net cash outflows.
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seperately managed account
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a managed product structure whereby individual accounts are created for each investors. in either case, an investment manager is guided by an investment mandate.
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structured product
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a passive investment vehicle financially engineered to provide a specific risk and return characteristic. the value of a structured product tracks the returns of reference security known as an underlying asset. underlying assets can consist of a single security, a basket of securities, foreign currencies, commodities or an index.
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