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Definition of BONDPAR
A system that monitors and evaluates the performance of a fixed-income portfolio , as well as the
Part of the return that is not due to systematic influences (market wide influences). In
Goods may be returned to the seller by the purchaser without restrictions.
The use of various forms of gimmickry to distort a company's true financial performance in order to achieve a desired result.
A characterization used by the securities and Exchange
Schedule of depreciation rates allowed for tax purposes.
Any depreciation method that produces larger deductions for depreciation in the
(1) The estimated useful life of the fixed asset being depreciated is
Any of several methods that recognize an increased amount
the maximum limit for the number of defects or errors in a process
A monetary policy of matching wage and price increases with money supply increases so that the real money supply does not fall and push the economy into recession.
A method of investment appraisal that measures
the rate of earnings obtained on the average capital investment over the life of a capital project; computed as average annual profits divided by average investment; not based on cash flow
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
A bond on which interest accrues, but is not paid to the investor during the time of accrual.
income that has been earned but not yet received. For instance, if you have a non-registered Guaranteed Investment Certificate (GIC), Mutual Fund or Segregated Equity Fund, growth accrues annually or semi-annually and is taxable annually even though the gain is only paid at maturity of your investment.
The accumulated coupon interest earned but not yet paid to the seller of a bond by the
The amount of interest accumulated on a debt security between
The amount of interest owing but not paid.
Accumulated Other Comprehensive Income
Cumulative gains or losses reported in shareholders'
Active portfolio strategy
A strategy that uses available information and forecasting techniques to seek a
activity-based management (ABM)
a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
actual cost system
a valuation method that uses actual direct
Adjustable rate preferred stock (ARPS)
Publicly traded issues that may be collateralized by mortgages and MBSs.
Adjusted Income from Continuing
Operations Reported income from continuing operations
A situation in which market participation is a negative signal.
After-tax real rate of return
Money after-tax rate of return minus the inflation rate.
All equity rate
The discount rate that reflects only the business risks of a project and abstracts from the
Allocation base A measure of activity or volume such as labour
hours, machine hours or volume of production
Amortizing interest rate swap
Swap in which the principal or national amount rises (falls) as interest rates
Annual percentage rate (APR)
The periodic rate times the number of periods in a year. For example, a 5%
annual percentage rate (APR)
interest rate that is annualized using simple interest.
The fund return, for any 12-month period, including changes in unit value and the reinvestment of distributions, but not taking into account sales, redemption, distribution or other optional charges or income taxes payable by any unitholder that would reduce returns.
Annualized holding period return
The annual rate of return that when compounded t times, would have
Arithmetic average (mean) rate of return
Arithmetic mean return.
Arithmetic mean return
An average of the subperiod returns, calculated by summing the subperiod returns
bond or note secured by assets of company.
Also called surplus management, the task of managing funds of a financial
Auction rate preferred stock (ARPS)
Floating rate preferred stock, the dividend on which is adjusted every
Automated storage/retrieval system
A racking system using automated systems
Average accounting return
The average project earnings after taxes and depreciation divided by the average
Average rate of return (ARR)
The ratio of the average cash inflow to the amount invested.
Average tax rate
Taxes as a fraction of income; total taxes divided by total taxable income.
average tax rate
Total taxes owed divided by total income.
A strategy in which the maturities of the securities included in the portfolio are concentrated
BARRA's performance analysis (PERFAN)
A method developed by BARRA, a consulting firm in
Base interest rate
Related: Benchmark interest rate.
Basic business strategies
Key strategies a firm intends to pursue in carrying out its business plan.
bonds that are not registered on the books of the issuer. such bonds are held in physical form by
A policy designed to increase an economy's prosperity at the expense of another country's prosperity.
Benchmark interest rate
Also called the base interest rate, it is the minimum interest rate investors will
The requirement that a claim holder voting against a plan of reorganization
Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees
A committee formed in response to SEC chairman Arthur Levitt's initiative to improve the financial
bonds are debt and are issued for a period of more than one year. The U.S. government, local
A long-term, interest-bearing promissory note that companies may use to borrow money for periods of time such as five, ten, or twenty years.
A long-term debt instrument in which the issuer (borrower) is
Security that obligates the issuer to make specified payments
A financial asset taking the form of a promise by a borrower to repay a specified amount (the bond's face value) on a maturity date and to make fixed periodic interest payments.
Usually a fixed interest security under which the issuer contracts to pay the lender a fixed principal amount at a stated date in the future, and a series of interest payments, either semi-annually or annually. interest payments may vary through the life of bond.
A debt security issued by a government or company. You receive regular interest payments at specified rates while you hold the bond and you receive the face value when it matures. Short-term bonds mature in less than five years; medium-term bonds mature in six to ten years; and long-term bonds mature in eleven years or greater.
fixed interest security issued by a corporation or government, having a specific maturity date.
A contract for privately placed debt.
A contractual provision in a bond indenture. A positive covenant requires certain actions, and
The method used for computing the bond-equivalent yield.
Bond equivalent yield
bond yield calculated on an annual percentage rate method. Differs from annual
The annualized yield to maturity computed by doubling the semiannual yield.
Bond Equivalent Yield
bond yield calculated on an annual percentage rate method
The contract that sets forth the promises of a corporate bond issuer and the rights of
Designing a portfolio so that its performance will match the performance of some bond index.
A conventional unit of measure for bond prices set at $10 and equivalent to 1% of the $100 face
With respect to convertible bonds, the value the security would have if it were not convertible
Amounts owed by the company that have been formalized by a legal document called a bond.
The Treasury and federal agencies are moving to a book-entry system in which securities are not represented by engraved pieces of paper but are maintained in computerized records at the
Pretax income reported on the income statement.
book rate of return
Accounting income divided by book value.
Book yield is the investment income earned in a year on a portfolio of assets purchased over a number of years and at different interest rates, divided by the book value of those assets.
Bottom-up equity management style
A management style that de-emphasizes the significance of economic
bonds issued by emerging countries under a debt reduction plan.
Break-even payment rate
The prepayment rate of a MBS coupon that will produce the same CFY as that of
Break-even tax rate
The tax rate at which a party to a prospective transaction is indifferent between entering
Broker loan rate
Related: Call money rate.
The process of ensuring that actual financial results are in line with targets – see variance
bond whose principal repayment is linked to the price of another security. The bonds are
Foreign bond issue made in London.
A strategy in which a portfolio is constructed so that the maturities of its securities are highly
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
business process reengineering (BPR)
the process of combining information technology to create new and more effective
A passive investment strategy with no active buying and selling of stocks from the
Call money rate
Also called the broker loan rate , the interest rate that banks charge brokers to finance
A bond that allows the issuer to buy back the bond at a
bond that may be repurchased by the issuer before maturity at specified call price.
Canada Savings Bonds
A bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value.
A discount rate used to find the present value of a series of future cash receipts. Sometimes called discount rate.
interest that is not immediately expensed, but rather is considered as an asset and is then
interest incurred during the construction period on monies invested in
CARs (cumulative abnormal returns)
a measure used in academic finance articles to measure the excess returns an investor would have received over a particular time period if he or she were invested in a particular stock.
cash burn rate
A relatively recent term that refers to how fast a business
Cash flow after interest and taxes
Net income plus depreciation.
Cash Flow–to–Income Ratio (CFI)
Adjusted cash flow provided by continuing operations
Cash management bill
Very short maturity bills that the Treasury occasionally sells because its cash
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