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couvert

English translation: Covered

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06:33 Mar 26, 2002
French to English translations [PRO]
Bus/Financial
French term or phrase: couvert
Préconisation des indices de référence des fonds dédiés:
FCP taux USA couvert en change : Lehman Brothers US Aggregate couvert
Jeanne Zang
United States
Local time: 04:46
English translation:Covered
Explanation:
It's much better.
Selected response from:

Kenji Otomo
Spain
Local time: 10:46
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2CoveredKenji Otomo
4 +1hedging
Steven Geller
4CoveringKenji Otomo
4 -1covered (against foreign exchange risk)
R. A. Stegemann


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
Covering


Explanation:
I think it coul be.

Kenji Otomo
Spain
Local time: 10:46
PRO pts in pair: 7
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
Covered


Explanation:
It's much better.

Kenji Otomo
Spain
Local time: 10:46
PRO pts in pair: 7

Peer comments on this answer (and responses from the answerer)
agree  R. A. Stegemann: Yes, this is much better.
5 hrs
  -> Thanks a lot

agree  xxxcldumas
6 hrs
  -> I really apreciate your "agree"
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
hedging


Explanation:
couvert or couverture means hedging

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Note added at 2002-03-26 08:29:37 (GMT)
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couvert en change = exchange rate hedged

Steven Geller
Local time: 10:46
PRO pts in pair: 1246

Peer comments on this answer (and responses from the answerer)
agree  Didier Fourcot: C'est le terme technique: http://finance.wat.ch/TermFinance/fr/fr000897.htm
37 mins

agree  Mary Lalevee: Yes this is the right term to use.
51 mins

disagree  R. A. Stegemann: Yes, it is a technical term, but one which is often abused. See below for my own suggestion.
5 hrs
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
covered (against foreign exchange risk)


Explanation:
The term "couvert en change" is an adjective referring to investments whose values are protected against changes in foreign exchange rates. Such coverage is especially useful when you invest in global funds with international portfolios. The fund in question is an FCP (see below for definition) denominated in US dollars.

The Lehman Brothers US Aggregate also appears to a kind of fund covered against foreign exchange risk.

I strongly recommend that you avoid the term hedging, because its use has been so diluted by improper use that it is no longer meaningful.

Un FCP est un Fonds Commun de Placement. Il s'agit d'une co-propriété de valeurs mobilières gérée par un professionnel pour les porteurs de parts. Au contraire des Sicav, les FCP n'ont pas de personnalité juridique.


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Note added at 2002-03-26 13:57:51 (GMT)
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A further note: Hedging is best understood by its opposite: speculation. Whereas speculators seek to take advantage of future changes in price, hedgers seek to eliminate the financial risk which these changes impose on earlier investments. Unfortunately, just about any large investment fund today is called a hedge fund, because most large funds engage in one sort of hedging or another. Unfortunately, many of today\'s so-called hedge-funds are highly speculative in nature.

R. A. Stegemann
Saudi Arabia
Local time: 17:46
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 168

Peer comments on this answer (and responses from the answerer)
disagree  Steven Geller: It is wrong to say that "heading" has been so diluted by improper use that it is no longer meaningful Funds are not "covered" they are "hedged". Sorry.
16 mins
  -> Please do a quick search on the term hedge fund and see with what you come up with. The range of responses is so diverse that the notion of hedging no longer means coverage in a strict financial sense.
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