Asset

Contents. Introduction. 6 Chapter 1. Alternative asset management development and its peculiarities. 9 1. Alternative asset management definition and main classes. 9 2. Hedge fund origin and history. 12

finances. Their two children are financially independent and in good health and they are the proud grandparents of a 1 and a 3-year old. The couple has no debt, and the following assets (at approximate fair market value): Home $ 400,000 Two vehicles 50,000 Non-registered financial assets: Ellen Bank accounts 25,000 RBC Investment Account 125,000 Rob Bank accounts 12,000 RBC Investment Account 32,000

revised in December 2003) IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (issued December 2003) IAS 16 Property, Plant and Equipment (as revised in December 2003) IFRS 3 Business Combinations (issued March 2004) IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004) IFRS 7 Financial Instruments: Disclosures (issued August 2005) IAS 1 Presentation of Financial Statements (as revised in September 2007).* In November 2006 the IASB issued IFRS 8 Operating

anglo-saxon présente une image de la situation de l’entreprise à un moment donné. C’est pourquoi il est daté. Même s’il n’existe aucune règle de présentation du bilan, il est généralement établi en liste (parfois en tableau aux États-Unis) et distingue les Assets (l’actif) des Liabilities (le passif). Les bilans des entreprises multinationales sont consolidés, c’est-à-dire qu’ils agglomèrent les bilans de l’ensemble des filiales. Les bilans britanniques et américains doivent permettre d’apprécier la capacité

liquidity (mesur des dettes à CT) ➢ = current ratio (ratio de liquidité generale) ✓ Currents assets/current liabilities =actif circulant ( a CT) /dettes à CT =10 564/18 079 = 0.58 ➢ =quick ratio(ratio de liquidité immédiate) ✓ Quick assets/ currents liabilities =liquidités / dettes à CT =3782/18079

consiste ? L'Asset Management ou plutôt en français la « Gestion d'Actifs » est sans aucun doute la seule partie des marchés financiers connue de tous les français. Peut-être pas le terme en lui-même, mais à coup sûr les produits qui en émanent. Un Asset Manager est en effet la société, filiale d'une banque ou d'un assureur (le statut de filiale est obligatoire depuis 1999), qui crée et gère au quotidien les produits de placements que chacun d'entre nous voit présentés sur les devantures de toutes

in exposure to interest rate risk in the financial system. However, the diversity of this risk makes it very difficult to select such indicators. The choice depends heavily on the nature of the interest rate risk – in particular, on the volume of assets and liabilities containing embedded options –, on the financial structure of the specific institution, and on its overall strategy. This explains the diversity of practices observed today in the monitoring and management of interest rate risk. The

decrease costs and structure investment solutions around liabilities. However, the current crisis is certain to have influenced the nature of recent innovations as investors, both institutional and retail, seek greater transparency and security. Asset managers now face an “innovation paradox”. The impact of the crisis on product innovation The current crisis has not prevented the industry from innovating, although capital preservation rather than speculation will probably dominate investor behavior

there has been greater emphasis on monitoring banks' risk management systems, and less emphasis on monitoring individual transactions. Secondly, in a wave of financial market liberalization, interest rates have been deregulated and restrictions on the asset choices of banks have been lifted. Thirdly, greater emphasis has been placed on capital requirements, typically using the BIS standards of the Basle Accord. As these changes have occurred, financial crises have become more frequent (see Caprio and

Return on assets (ROA) = (Net Income/Total assets) Return on Equity (ROE) = (Net Income after tax/Shareholder Equity) OR (Net Income after tax/Total Assets – Total liabilities) Equity Ratio (ER) = (Owners’ Equity/Total assets) Interest Coverage Ratio (ICR) or Times interest earned (TIE) = (EBIT or EBITDA/Interest charges) Quick Ratio (QR) = [(Cash + Accounts receivable)/Current liabilities] Profit Margin (PM, or Net Profit Margin) = [(Net Profit before taxes)/Revenue] x 100 Asset Turnover (AT)