Glossary
Fair valueThe amount at which an asset is exchanged between knowledgeable, willing parties in an arm's length transaction or the amount at which a liability can be paid. Depending on the case in question, the value concept is fleshed out by measures of value, such as market value, or in the absence of such a benchmark, by internal valuation models. |
Fair value hedgeThis primarily concerns fixed-interest items (e.g. loans or securities) that can be hedged against changes in fair value by derivatives. |
Fund assets (according to BVI)Fund assets according to BVI comprise the fund assets of the mutual and special funds and funds-of-funds as well as the Master-KAG mandates. Direct investments in cooperation partner funds, the proportion of products for fund-based asset management attributable to cooperation partners, third party funds and liquidity as well as the advisory/management and asset management mandates are not included. |
Fund-based asset managementGeneric term for structured investment products such as funds-of-funds and fund-linked asset management products. |
Fund-of-fundsInvestment funds that invest indirectly in securities, i.e. via other funds. The investment policy of funds-of-funds is mostly geared to the steady reproduction of a certain portfolio structure on the basis of a defined chance/risk profile. |