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The Fund Accounting Crossword February 2014

5 9 10

6 11 12 13

14 15

16 20

17

18

19

21

22

Across
1. The rate of return that must be generated by a hedge fund before the fund manager earns a performance fee (6) 3. Revenue earned during a period (6) 7. The Bloomberg function for credit default swap valuation (4) 9. A nasty accounting concept (7) 12. An entitlement to buy equities from the issuer at a specified price (also, what the client always is) (5) 16. One of the components of market risk, the other two being currency and interest rate risk (5) 19. The acronym for assets less liabilities (3) 20. This type of hedge fund strategy is worried about debt (10) 21. In a method of accounting for performance fees common in the US, a new one of these could be created at many dealing days (6) 22. The effect a subscription has on the nav per share (4)

Down
2. The 2 things your NAV must be, not unlike the title of the 1989 hit by Black Box (5,2,4) 4. The date upon which a dividend is recognised as income earned by a fund that holds the equity (2,4) 5. The date upon which a bondholder receives the par amount of the bond from the issuer (8) 6. The amount of a bond one over a birdie (3) 8. In money market fund language, the acronym that means the average time to repayment of principal for instruments held by the fund (3) 10. ______ interest: the term used to describe a sort of performance fee earned by a private equity fund manager (7) 11. Easy to sell or pour (7) 13. The acronym meaning a government bond that has principal and interest which is linked to inflation (4) 14. The scrip is on the bus (5) 15. Another name for a spinoff (8) 17. This involves cash movement relating to gains/losses, interest and dividends even though the CFD position remains open (5) 18. An abbreviation for one of the ID numbers of a financial instrument (4)

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