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Flashcard 149628406

Tags
#finance
Question
What does AUM stand for in finance?
Answer
assets under management

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Assets under management - Wikipedia, the free encyclopedia
Jump to: navigation, search This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2011) <span>In finance, assets under management (AUM), sometimes called funds under management (FUM), measures the total market value of all the financial assets which a financial institution such as a mutual fund, venture capital firm, or brokerage house manages on behalf of its clients. This metric is very popular within the financial industry and is a sign of size and success of any firm against its competition.[1] The AUM is calculated by different methods. In the mos






Flashcard 149629021

Tags
#bonds #duration #finance
Question
For modified duration the common units are the percent change in price per one percentage point change in yield per year (for example yield going from 8% per year (y = 0.08) to 9% per year (y = 0.09)). This will give modified duration close to the value of [...]
Answer
Macaulay duration (and the same when rates are continuously compounded)

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uration the common units are the percent change in price per one percentage point change in yield per year (for example yield going from 8% per year (y = 0.08) to 9% per year (y = 0.09)). This will give modified duration close to the value of <span>Macaulay duration (and the same when rates are continuously compounded)<span><body><html>

Original toplevel document

Bond duration - Wikipedia, the free encyclopedia
average time until repayment (measured in units of time such as years) while modified duration is a price sensitivity measure when the price is treated as a function of yield, the percentage change in price with respect to yield. Units[edit] <span>For modified duration the common units are the percent change in price per one percentage point change in yield per year (for example yield going from 8% per year (y = 0.08) to 9% per year (y = 0.09)). This will give modified duration close to the value of Macaulay duration (and the same when rates are continuously compounded). Formally, modified duration is a semi-elasticity, the percent change in price for a unit change in yield, rather than an elasticity, which is a percentage change in output for a percen






Flashcard 149629035

Tags
#bonds #finance #yield-to-maturity #z-spread
Question
Conventionally, the zero rates for calculating Z-spread are determined from the [...] curve, with semi-annual compounding.
Answer
Treasury

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Conventionally, the zero rates for calculating Z-spread are determined from the Treasury curve, with semi-annual compounding.

Original toplevel document

Z-spread - Wikipedia, the free encyclopedia
onal factors such as liquidity and credit risk. The Z-spread quantifies the impact of these additional factors. It is the spread you need to add to the curve you are discounting with in order to generate a price that matches the market price. <span>Conventionally, the zero rates are determined from the Treasury curve, with semi-annual compounding. The Problem with YTM spreads[edit] Coupon Paying bonds are essentially portfolios of Zero Coupon Bond components and the Yield to Maturity of such instruments can be thought of as being