unequitised cash

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14:12 Jul 13, 2018
English to French translations [PRO]
Bus/Financial - Finance (general) / index portfolio
English term or phrase: unequitised cash
Bonjour à tous,

Je suis perplexe sur ce terme. pas trop de contexte, c'est une énumération dans le cadre du § contrôle des risques (portefeuille d'actions indexé) :
Le texte mélange allemand et anglais.

Maximale typische Abweichungen :
Länder +/- 10bps
Titel : +/-2bps
unequitised cash 20bps
ex-ante tracking error 10bps

Merci d'avance

Laurence Bourel
Laurence Bourel
Local time: 06:45

Summary of answers provided
4 -1argent liquide non investi dans des fonds indiciels cotés
Francois Boye
Summary of reference entries provided
To equitize
apport en capitaux propres non rémunéré par des titres

Discussion entries: 5



4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
argent liquide non investi dans des fonds indiciels cotés


Note added at 6 hrs (2018-07-13 20:43:21 GMT)

Cash Equitization or Equalization

This is a fancy term for a straightforward concept. Cash equitization or equalization refers to the strategy of temporarily parking a large amount of cash in an ETF that has approximately the same asset class exposure and target risk desired by the investor, before investing it for the long term. Institutional investors generally implement this strategy when they have a temporary build-up of cash and want to avoid underperforming their benchmark through “cash drag” (which refers to the drag on performance caused by a large cash position). On the institutional side, this can occur, for instance when an institution is transitioning between managers or is looking for a new manager in a specific asset class. While a retail investor may be faced with a similar issue when transitioning between portfolio managers, cash equitization can also be used to deal with a large cash balance generated through the sale of a house or real estate, or receipt of a bonus. An investor considering cash equitization needs to keep two points kept in mind, however. Firstly, since investing in ETFs carries a significantly higher level of risk than leaving a large sum in cash or cash equivalents, the investor should be cognizant of this greater degree of risk. Secondly, there may be tax implications to getting in and out of the ETF that should be taken into consideration.

Source: Investopedia

Note added at 9 hrs (2018-07-13 23:29:34 GMT)


Francois Boye
United States
Local time: 00:45
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 746

Peer comments on this answer (and responses from the answerer)
neutral  Germaine: Les equitizations consistent essentiellement à souscrire des contrats à terme qui couvrent ou sont adossés à la position de trésorerie du fonds. Cette réponse désigne une autre approche, qui n'est pas la seule. // Cf. discussion.
19 mins
  -> just read the attachment!

disagree  Daryo: you have taken ONE way of investing temporarily available cash and turned it into the ONLY possible way of "equitizing" cash"
1 hr
  -> So what is the other way?
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Reference comments

2 hrs
Reference: To equitize

Reference information:
To divide (real estate or other assets) among several investors and placed into publicly traded stock.

Note added at 2 hrs (2018-07-13 17:12:39 GMT)

Cash Securitization: The Challenge of Effective Liquidity Management
Although cash securitization (also known as cash equitization or cash overlay) has been implemented by institutional fund sponsors for many years, the topic remains esoteric for some...

    Reference: http://www.yourdictionary.com/equitize
Specializes in field
Native speaker of: French
PRO pts in category: 614

Peer comments on this reference comment (and responses from the reference poster)
neutral  Francois Boye: see the excerpt from investopedia
2 hrs
  -> Which? Where? Celui de ta réponse ne dit rien de la traduction et reprend l'explication de parametricportfolio : investir la trésorerie dans quelque instrument financier pour en tirer parti (en attendant une occasion de placement correspondant au fonds).
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6 hrs peer agreement (net): -1
Reference: apport en capitaux propres non rémunéré par des titres

Reference information:
plan comptable normalisé - eCDF - Etat.lu
115 Apport en capitaux propres non rémunéré par des titres ... 172 Plus-values immunisées réinvesties. 0179. 0180 ..... autres avoirs non encore reçus. 0829.

Recueil Electronique des Sociétés et Associations - gd.lu
https://gd.lu/resa/7ZS0kK -
19 oct. 2017 - contribution account (compte 115 Apport en capitaux propres non rémunéré par des titres ) may be set up. The Company may use the amount ...

Le plan comptable luxembourgeois dans le détail
7 jun. 2016 - 102 Capital souscrit non appelé (Sociétés de capitaux) ... 115 Apport en capitaux propres non rémunéré par des titres («Capital contribution») ...

Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 23

Peer comments on this reference comment (and responses from the reference poster)
disagree  Daryo: ??? strange method - these are only examples of your assumed translation - but where do you give any explanation/proof that it corresponds to the meaning of the term that was used used in the ST?
1 hr
neutral  Germaine: Euh... ça n'a rien à voir avec la question: apport en capital = capital/equity contribution. We're talking of the cash used - or not - by an investment fund to acquire securities, don't we?
4 hrs
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