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See Investment Directive.
A performance-based fee. An Incentive Fee is a charge to
compensate the portfolio manager for superior returns.
Historically, incentive fees used to implement the hurdle or
the high water mark method. Now, with investors being more and
more sophisticated, it is not uncommon to implement floating
hurdle combined with high water mark methods.
Initializes the balance of current and external accounts.
No more than one
init operation is allowed for a current account (if an init
operation has not been raised, the default is an initial
zero valuation). Cash movements placed before the Init date
of the current account are ignored when calculating the
account balance. An external account can be re-initialized
from time to time, for example to reset a negative balance
after processing contributions.
Futures, rates, and rate futures products in Webfolio
are set up as series and instances. An instance
is a issuance of the parent series record. For example, a rate
would be created as a series record, and different terms of
the rate could be individual instances.
An item of value purchased usually for income or capital
Allocations are prospective investment decisions while
being assessed and ratified. Once approved, they are sent to the middle office
directive (ID)/ investment recommendation (IR)
These are investment allocation requests prior to being
approved for execution or cancelled. The Allocation Blotter
lists the allocations raised in Front Office. An investment
session is raised for a portfolio, and the type of portfolio
dictates the type of session and its allocations. For
example an in-house portfolio has directive sessions with
only investment directive allocations.
In Front Office, investment sessions are created for a
portfolio to group together all the allocations with the same
operation date (although the actual value date may be later). A session will consist of either
Investment Directives if the portfolio is managed by the local
investment management office or Investment Recommendations if
the portfolio allocations are for advisory portfolios.
See Investment Recommendation.
International Securities Identification Number. ISIN insures the standardized identification of issue-grade
securities and other financial instruments within a uniform
system and the distribution of data to securities market
participants. ISINs and standard descriptions of securities
are used in all sectors of the securities industry, and are
important in performing precise and effective settlement and
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