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| Redemption |
Sale of an investor's shares or units in a collective investment scheme.
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| Redemption fee |
Exit fee, based on the same principle as the subscription fee, charged when shares or units are redeemed (i.e. sold).
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| Reference portfolio |
Portfolio that provides an investment objective for a capital-protected financial product with changing exposure to the benchmark index.
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| Reference portfolio value |
Value of the reference portfolio.
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| Reference price |
Price used to established the opening price for the next day's trading session. The reference price is the last traded price or indicative price recorded in the trading system.
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| Regulated market |
A body of rules drawn up by the entity responsible for a regulated market, setting out membership requirements, as well as procedures for transactions and admission of investment products. Once approved by the CMF, this set of rules allows the relevant market to qualify for "regulated market" status.
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| Replication |
Asset management technique used to replicate movements in an underlying (e.g. an index). With full replication, an asset is invested in a basket of stocks with weightings similar or identical to those in the benchmark index. See Synthetic replication.
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| Repos |
A repurchase agreement or repo: the temporary sale of securities against cash under which the assignor (seller) agrees irrevocably to take back securities at an agreed date, and the assigner (buyer) to return them.
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| Rho |
Rho is the sensibility of the warrant price with respect to changes in the interest rate.
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| Risky asset exposure |
Fraction of a fund's assets that is exposed directly or synthetically to a particular market risk, either though direct investment or through derivatives. Some funds may have minimum levels of risky asset exposure.
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