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Jun 12, 2009 12:54
14 yrs ago
9 viewers *
French term
portage
French to English
Bus/Financial
Investment / Securities
structured products
This is not the first time I've encountered this term, but I'm struggling to translate it in this particular context. It's in a commentary on the performance of a fund that invests in credit products. Examples:
- "Sur le ***portage*** corporates (+X,XX%), l'ensemble des noms profite du resserrement notamment les noms les plus larges tels que ABC (-XXXbp) et DEF (-XXXbp)"
- "Les First To Default de la poche Portage Produits Structurés profitent pleinement de l'amélioration sur le crédit"
I think it's referring to the strategy of holding assets on behalf of their actual owner in view of an agreed resale. (See http://www.vernimmen.net/html/glossaire/definition_portage.h... Am I on the right lines here, and if so, what would be a suitable way of translating it. Is it a kind of repo?
Bear in mind that a concise translation is needed as it often comes up in the names of fund compartments (cf. "poche Portage Produits Structurés" above).
[Note: I know there are various other KudoZ entries for "portage", but I'm still feeling somewhat in the dark after looking through them...]
Thanks in advance...
- "Sur le ***portage*** corporates (+X,XX%), l'ensemble des noms profite du resserrement notamment les noms les plus larges tels que ABC (-XXXbp) et DEF (-XXXbp)"
- "Les First To Default de la poche Portage Produits Structurés profitent pleinement de l'amélioration sur le crédit"
I think it's referring to the strategy of holding assets on behalf of their actual owner in view of an agreed resale. (See http://www.vernimmen.net/html/glossaire/definition_portage.h... Am I on the right lines here, and if so, what would be a suitable way of translating it. Is it a kind of repo?
Bear in mind that a concise translation is needed as it often comes up in the names of fund compartments (cf. "poche Portage Produits Structurés" above).
[Note: I know there are various other KudoZ entries for "portage", but I'm still feeling somewhat in the dark after looking through them...]
Thanks in advance...
Proposed translations
(English)
3 | temporary holding (of securities) | Yasutomo Kanazawa |
Proposed translations
11 mins
temporary holding (of securities)
My suggestion.
Discussion
It sure sounds like a repo to me too, but I'm not sure.
Do you have access to Ménard's French English derivatives dictionary? I loaned mine to a friend. It might be in there.
From the Vernimmen definition in French, I think we would call this a 'straw sale' of the securities in the vernacular: usually sales made to conceal the identity of an investor who wants to accumulate shares anonymously.