Characterizes the relative peakedness or flatness of a
distribution compared with a normal distribution. Positive
kurtosis indicates a relatively peaked distribution. Negative
kurtosis indicates a relatively flat distribution.
The life cycle is the workflow within an office for
processing allocations and orders. Webfolio
uses a series of tabled rules in the Life Cycle menu to
control the state
(status) of an investment session or an allocation, and the
transitions between states.
The number of days required to liquidate a fund holding.
typically offer a quarterly or annual redemption frequency, meaning that
they allow investors to redeem their shares that often.
However many other factors can affect liquidity: notice;
lock-up periods, penalties, and redemption gates. If a
security is traded on the market, market demand also impacts
A constraint based on a calculation of the portfolio's
There are three areas where liquidity can be measured:
individual underlying fund liquidity; the portfolio's
overall liquidity profile (a stated percentage of the
portfolio must be liquid in a specified number of days), and
Portfolio Average Liquidity (based on the weighted average
The potential that a portfolio cannot have its underlying
without having to accept a substantial discount. The term also
refers to the potential that a securities buyer will not have
enough money to pay for the purchase.
The period of time, often one year, during which
hedge-fund investors are prohibited from redeeming their
shares. It can apply to an initial investment and/or to
Last to date. The most recently calculated rate of return.
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