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coordonnés

English translation: harmonised/harmonized

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:coordonnés
English translation:harmonised/harmonized
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05:57 Aug 13, 2001
French to English translations [PRO]
Bus/Financial
French term or phrase: coordonnés
The whole phrase is: "OPCVM français ou européens
coordonnés." I have been trying to understand what the "coordonnés" in "OPCVM français ou européens
coordonnés" are: "French or European *?* UCITS." The nearest explanation I
have found is that these UCITS are regulated by the EU. On the other
hand, I haven't been able to come up with anything that mentions that
they might be regulated by the French government instead, so have doubts
about translating the phrase as "French or EU-regulated UCITS." Does anyone have any clear idea about how a "French" UCITS might fit into the overall European UCITS picture? Has anyone come up with a standard translation for "coordonnés"?
Yolanda Broad
United States
Local time: 22:43
coordinated
Explanation:
Hello Yolanda,

Without fuller context, it is difficult to know whether specific reference has been/is being made to a particular European directive. The European law portal Eur-Lex which gives multilingual versions of the same official reports is of some help. Whilst some of the other sources below are « translated » sites, the term « coordinated UCIT » would appear to be used officially – the Eur-Lex source is strong « evidence » in favour of its use.

http://europa.eu.int/eur-lex/fr/lif/dat/1992/fr_392L0096.htm...

392L0096 Directive 92/96/CEE du Conseil, du 10 novembre 1992, portant coordination des dispositions législatives, réglementaires et administratives concernant l'assurance directe sur la vie, et modifiant les directives 79/267/CEE et 90/619/CEE (troisième directive assurance vie).

3. Dans le cadre des règles détaillées fixant les conditions d'utilisation des actifs admissibles, l'État membre traite de manière plus limitative:
- les prêts qui ne sont pas assortis d'une garantie bancaire, d'une garantie accordée par des entreprises d'assurances, d'une hypothèque ou d'une autre forme de sûreté par rapport aux prêts qui en sont assortis,
- les organismes de placement collectif en valeurs mobilières (OPCVM) non coordonnés au sens de la directive 85/611/CEE (¹) et les autres fonds d'investissement par rapport aux OPCVM coordonnés au sens de la même directive,


http://europa.eu.int/eur-lex/en/lif/dat/1992/en_392L0096.htm...

392L0096 Council Directive 92/96/EEC of 10 November 1992 on the coordination of laws, regulations and administrative provisions relating to direct life assurance and amending Directives 79/267/EEC and 90/619/EEC (third life assurance Directive).

3. In the context of the detailed rules laying down the conditions for the use of acceptable assets, the Member State shall give more limitative treatment to:
- any loan unaccompanied by a bank guarantee, a guarantee issued by an assurance undertaking, a mortgage or any other form of security, as compared with loans accompanied by such collateral,
- UCITS not coordinated within the meaning of Directive 85/611/EEC (¹) and other investment funds, as compared with UCITS coordinated within the meaning of that Directive,


In 2000, there were indications that this directive was obselete :

http://www.asf-france.com/_Public/publication/rapport/AG2000...

(Report on the develoment of rules & regulations – the European context, the ASF being the Association française des sociétés financières)

Deux nouvelles directives doivent remplacer la directive de 1985 sur les OPCVM coordonnés, jugée obsolète. La première proposition vise la mise en place d’un passeport européen du gestionnaire sur le modèle de la seconde directive bancaire et de la directive sur les services d’investissement…La seconde proposition concerne les produits : elle vise à étendre la gamme des actifs financiers dans lesquels les OPCVM sont autorisés à placer des fonds et redéfinit la notion de valeurs mobilières.

Further explanation (Luxembourg) :

http://www.alfi.lu/html/publications_and_articles/articles/K...

La commercialisation au Luxembourg de parts d’OPC étrangers
par Claude Kremer et Claude Niedner*
Parmi les organismes de placement collectif ("OPC"), il convient de distinguer entre deux catégories:
1 ceux qui répondent aux conditions énoncées dans la Directive 85/611/CEE (la "Directive OPCVM"), c.-à-d. les OPCVM dits coordonnés qui, comme leur nom l'indique, investissent exclusivement en valeurs mobilières;
2 ceux qui ne sont pas coordonnés au sens de la Directive OPCVM, notamment parce qu'ils investissent en avoirs qui ne sont pas des valeurs mobilières proprement dites.
Les OPCVM coordonnés sont habilités à librement commercialiser leurs parts dans les différents Etat membres de l'Union européenne, dès lors qu’ils ont été agréés par l'autorité de contrôle compétente de l’Etat où ils sont établis.


And a site which refers to them quite simply as "coordinated UCITs" :

www.cdcixis-am.fr/webadmin/res/U/Reporting/CDC_EURO_ACTIONS...

Investment objective : This coordinated UCITS is invested in shares issued and traded on euro markets and aims to outperform the MSCI EMU index, thanks to a sectorial approach taking into account the interdependence among EMU economies.The fund is invested in equities at a level of
at least 90% of its total assets.
Selected response from:

Nikki Scott-Despaigne
Local time: 04:43
Grading comment
Hi Nikki,

Thanks for all the info. And I do agree that "coordinated" **ought** to be the official translation. These entries in Eur-Lex certainly support that conclusion. However, another translator working on the same project, after I had posted my question to Kudoz, found that Eur-Lex also gives "harmonised" in some other entries, and, when I subsequently did a Google search, "harmonised" turns out to be the term that investment translators have settled on.

Here is what the other translator found:

fonds coordonnés = harmonised funds
fonds non-coordonnés = non-harmonised funds
English Reference:
http://europa.eu.int/eur-lex/en/com/pdf/2000/en_500PC0329.pdf
French Reference:
http://europa.eu.int/eur-lex/fr/com/pdf/2000/fr_500PC0329.pdf

And here are some of the results of my research:

I get 15 hits for
"harmonised UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22harmonised+ucits%22&btn
G=Google+Search

and another 3 hits for "harmonized UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22harmonized+ucits%22

I also find 13 hits for "harmonised funds" and another 5 for "harmonized
funds." I couldn't get anything for "EU-regulated funds."

I get one hit for "coordinated UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22coordinated+ucits%22

and 2 for "co-ordinated UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22co-ordinated+ucits%22

Translation of new financial instruments seems to present a number of unique challenges. Thanks to everyone for pitching in on this.

Yolanda
4 KudoZ points were awarded for this answer

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Summary of answers provided
5UCITS-compliant (investment/mutual funds)
Colin Smith
nacoordinated
Nikki Scott-Despaigne
na"together" or "synergy"
xxxannekneip
naCoordinated European and French OPCVM
1964
naregulated (ok)
Alain BERTRAND


  

Answers


20 mins
regulated (ok)


Explanation:
I believe that it's both the French and the European OPCVM that need to be " sur la même longueur d'onde".

Coordonnés could well mean here "synchronisés"

Alain BERTRAND
Local time: 07:43
PRO pts in pair: 12
Login to enter a peer comment (or grade)

30 mins
Coordinated European and French OPCVM


Explanation:
Perhaps means 1 +2 "in coordination", ?
I am not sure but regulation is fairly different , in coordination there may be common regulation of affairs.



1964
Turkey
Local time: 06:43
Native speaker of: Native in TurkishTurkish
PRO pts in pair: 294
Login to enter a peer comment (or grade)

40 mins
"together" or "synergy"


Explanation:
Could'nt it be just "together" ? (depending on the rest of the sentence)

or The synergy between/of French and European UCITS.

Just a guess!





    Own experience
xxxannekneip
Germany
Local time: 04:43
Native speaker of: French
PRO pts in pair: 7
Login to enter a peer comment (or grade)

14 hrs
coordinated


Explanation:
Hello Yolanda,

Without fuller context, it is difficult to know whether specific reference has been/is being made to a particular European directive. The European law portal Eur-Lex which gives multilingual versions of the same official reports is of some help. Whilst some of the other sources below are « translated » sites, the term « coordinated UCIT » would appear to be used officially – the Eur-Lex source is strong « evidence » in favour of its use.

http://europa.eu.int/eur-lex/fr/lif/dat/1992/fr_392L0096.htm...

392L0096 Directive 92/96/CEE du Conseil, du 10 novembre 1992, portant coordination des dispositions législatives, réglementaires et administratives concernant l'assurance directe sur la vie, et modifiant les directives 79/267/CEE et 90/619/CEE (troisième directive assurance vie).

3. Dans le cadre des règles détaillées fixant les conditions d'utilisation des actifs admissibles, l'État membre traite de manière plus limitative:
- les prêts qui ne sont pas assortis d'une garantie bancaire, d'une garantie accordée par des entreprises d'assurances, d'une hypothèque ou d'une autre forme de sûreté par rapport aux prêts qui en sont assortis,
- les organismes de placement collectif en valeurs mobilières (OPCVM) non coordonnés au sens de la directive 85/611/CEE (¹) et les autres fonds d'investissement par rapport aux OPCVM coordonnés au sens de la même directive,


http://europa.eu.int/eur-lex/en/lif/dat/1992/en_392L0096.htm...

392L0096 Council Directive 92/96/EEC of 10 November 1992 on the coordination of laws, regulations and administrative provisions relating to direct life assurance and amending Directives 79/267/EEC and 90/619/EEC (third life assurance Directive).

3. In the context of the detailed rules laying down the conditions for the use of acceptable assets, the Member State shall give more limitative treatment to:
- any loan unaccompanied by a bank guarantee, a guarantee issued by an assurance undertaking, a mortgage or any other form of security, as compared with loans accompanied by such collateral,
- UCITS not coordinated within the meaning of Directive 85/611/EEC (¹) and other investment funds, as compared with UCITS coordinated within the meaning of that Directive,


In 2000, there were indications that this directive was obselete :

http://www.asf-france.com/_Public/publication/rapport/AG2000...

(Report on the develoment of rules & regulations – the European context, the ASF being the Association française des sociétés financières)

Deux nouvelles directives doivent remplacer la directive de 1985 sur les OPCVM coordonnés, jugée obsolète. La première proposition vise la mise en place d’un passeport européen du gestionnaire sur le modèle de la seconde directive bancaire et de la directive sur les services d’investissement…La seconde proposition concerne les produits : elle vise à étendre la gamme des actifs financiers dans lesquels les OPCVM sont autorisés à placer des fonds et redéfinit la notion de valeurs mobilières.

Further explanation (Luxembourg) :

http://www.alfi.lu/html/publications_and_articles/articles/K...

La commercialisation au Luxembourg de parts d’OPC étrangers
par Claude Kremer et Claude Niedner*
Parmi les organismes de placement collectif ("OPC"), il convient de distinguer entre deux catégories:
1 ceux qui répondent aux conditions énoncées dans la Directive 85/611/CEE (la "Directive OPCVM"), c.-à-d. les OPCVM dits coordonnés qui, comme leur nom l'indique, investissent exclusivement en valeurs mobilières;
2 ceux qui ne sont pas coordonnés au sens de la Directive OPCVM, notamment parce qu'ils investissent en avoirs qui ne sont pas des valeurs mobilières proprement dites.
Les OPCVM coordonnés sont habilités à librement commercialiser leurs parts dans les différents Etat membres de l'Union européenne, dès lors qu’ils ont été agréés par l'autorité de contrôle compétente de l’Etat où ils sont établis.


And a site which refers to them quite simply as "coordinated UCITs" :

www.cdcixis-am.fr/webadmin/res/U/Reporting/CDC_EURO_ACTIONS...

Investment objective : This coordinated UCITS is invested in shares issued and traded on euro markets and aims to outperform the MSCI EMU index, thanks to a sectorial approach taking into account the interdependence among EMU economies.The fund is invested in equities at a level of
at least 90% of its total assets.



    Reference: http://europa.eu.int/eur-lex/en/lif/dat/1992/en_392L0096.htm...
    Reference: http://www.asf-france.com/_Public/publication/rapport/AG2000...
Nikki Scott-Despaigne
Local time: 04:43
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 4455
Grading comment
Hi Nikki,

Thanks for all the info. And I do agree that "coordinated" **ought** to be the official translation. These entries in Eur-Lex certainly support that conclusion. However, another translator working on the same project, after I had posted my question to Kudoz, found that Eur-Lex also gives "harmonised" in some other entries, and, when I subsequently did a Google search, "harmonised" turns out to be the term that investment translators have settled on.

Here is what the other translator found:

fonds coordonnés = harmonised funds
fonds non-coordonnés = non-harmonised funds
English Reference:
http://europa.eu.int/eur-lex/en/com/pdf/2000/en_500PC0329.pdf
French Reference:
http://europa.eu.int/eur-lex/fr/com/pdf/2000/fr_500PC0329.pdf

And here are some of the results of my research:

I get 15 hits for
"harmonised UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22harmonised+ucits%22&btn
G=Google+Search

and another 3 hits for "harmonized UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22harmonized+ucits%22

I also find 13 hits for "harmonised funds" and another 5 for "harmonized
funds." I couldn't get anything for "EU-regulated funds."

I get one hit for "coordinated UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22coordinated+ucits%22

and 2 for "co-ordinated UCITS":

http://www.google.com/search?hl=en&safe=off&q=%22co-ordinated+ucits%22

Translation of new financial instruments seems to present a number of unique challenges. Thanks to everyone for pitching in on this.

Yolanda
Login to enter a peer comment (or grade)

2075 days   confidence: Answerer confidence 5/5
(OPCVM) coordonnés
UCITS-compliant (investment/mutual funds)


Explanation:
There is a lot of confusion among translators about UCITS in general - they are not a type of fund, it is simply a certification that allows the fund to marketed Europe-wide, subject to certain conditions. It is a mistake to translate OPCVM or FCP as 'UCITS', because whilst most French OPCVM or FCP will be UCITS-compliant, they are not automatically so. Google is becoming increasingly dangerous on this point because there are so many mis-translated investment documents and websites out there. OPCVM and FCP are essentially mutual or pooled investment funds and should be translated as such in most contexts. 'OPCVM coordonnés' are UCITS-certified funds that comply with the UCITS directive, hence 'UCITS-compliant funds'

--------------------------------------------------
Note added at 2075 days (2007-04-19 09:58:11 GMT) Post-grading
--------------------------------------------------

see www.fimarkets.com/pages/opcvm.htm

Colin Smith
France
Local time: 04:43
Native speaker of: English
PRO pts in pair: 48
Login to enter a peer comment (or grade)




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