A - F
Alternative funds invest in non-traditional asset classes such as private debt, private equity, infrastructure, real estate and others that provide absolute returns. These funds are good risk diversifiers as they are lowly correlated with publicly traded funds and securities.
A capital gain results from the sale of an asset at a profit. Conversely, a capital loss arises when an asset is sold at a loss. The gain and/or loss are determined when the selling price is subtracted from the purchase price.
Debt Financing Solutions
Debt financing refers to amounts borrowed by individuals or corporations to finance a project, an event or simply to purchase a good or service. In the corporate world, borrowing funds to finance projects is sometimes favoured over equity financing, if the cost of funds is low, and as interest on the debt receives a favourable tax treatment and is easily measurable.
Exchange-traded funds (ETFs) are funds that replicate an index such as the S&P/TSX Composite or S&P 500. These vehicles are very attractive because of their low fee structure that does not penalize investor returns.
G - L
Liquid Alternative Investments
Liquid alternative investments aim to provide investors access to alternative strategies such as hedge funds in the form of mutual funds or exchange-traded funds (ETFs) that would otherwise be inaccessible due to their illiquidity. Liquid alts as they are also known are focused on providing absolute returns and are normally lowly correlated to public issues, making them good diversifiers of risk.
M - R
When two or more individuals and/or entities pool their funds together to invest, collectively, this is referred to as an investment fund. If this fund is left open to onboard new investors, then the fund takes on the definition of open-end fund. The term contrasts with a closed-end fund, which issues a set number of shares at the onset and is normally closed to new investors.
Private Debt or Private Credit
Private credit as its name suggests is credit that is negotiated privately to fund companies seeking capital for projects or other ventures. It is not publicly traded and takes various legal forms including loans, bonds and/or notes. Private credit or private debt fits into the broad category of alternative investments. Its strategies include real estate debt, distressed debt, direct lending, mezzanine financing and structured financing.
Private equity refers to funds that are directly invested in non-exchange listed private companies. Private equity may target public companies in buyouts to take them private. Private equity fits in the broad category of alternative investments.
S - Z
Yield is defined as the return that an investor can realize on an investment from interest, dividend and capital gains. Otherwise known as total return, the yield on investment can be different for different assets, but is always presented in percentage based on the invested amount or on the current market value of the security.
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