Portfolio Characteristics

The credit quality of the underlying asset pool is critical, since it determines the structures credit rating. It is common to allocate an average ratii to 

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Despite such improvements, exploration remains a high risk activity. Many international oil and gas companies have large portfolios of exploration interests, each with their own geological and fiscal characteristics and with differing probabilities of finding oil or gas. Managing such exploration assets and associated operations in many countries represents a major task. 

With the development of the new Ecoflex FS, new performance characteristics have been achieved in addition to improved biodegradabUity and bio-based content. This new Ecoflex FS is used for the development of new Ecovio compounds for specific applications like paper coating and shrink film. Further Ecovio applications, where biodegradability adds value, are under development to extend the portfolio of BASF. 

This workshop focused on factors such as work processes, systems, and technologies that could enable and accelerate the pace of innovation and increase the yield of major innovations from work in the basic chemical sciences. More specifically, speakers identified teamwork, commitment, standardized portfolio management, clear goals, well-defined milestones, and effective technology transfer as some of the characteristics of innovative institutions and practices. Successful approaches to innovation have taken place in different environments and between different environments—despite infrastmcture and cultural differences, both interdisciplinary collaborations and collaborations between industry and academia have proven beneficial for all parties. Funding must also be available to promote innovation at stages of research often ignored. 

Hydrogen-bonding metrics and patterns are characteristic properties of molecules. It is by no means certain that a )NH 0=C bond will have exactly the same metrical properties when it occurs in a peptide, a barbiturate, and a nucleoside. In fact, as will be shown later, there are small, but significant, differences in these metrical properties. There are also differences in the pattern characteristics. The patterns that are observed in the crystal structures of these various types of small biological molecules provide a portfolio of observed hydrogen bond structures. These can be used as models for interpretations of structure and for hypotheses concerning intermolecular interactions in those situations where direct observation of the position of the hydrogen atom is experimentally impossible. 

Sensitivity analysis is used to identify and quantify project characteristics that are major factors in the expected value of a project/ and is one of the most powerful tools of modern portfolio management. Sensitivity analyses serve two goals. The first goal is to identify the project characteristics that were used to determine the project value/ the so-called value drivers/ and ensure that the project plan developed by the project team solidly supports these value drivers. For example/ a value driver for a potential sedative hypnotic might be that it has no potentiation or interaction with alcohol. Because much of the value of this project depends on this product characteristic/ the project team will plan to assess this expected value driver as early as possible in the development cycle. 

This is a series of events that occurs on a continuum, and the main characteristic is the internally generated cash flows that provide the wherewithal for R D investment to come from the portfolio of existing products. To provide the necessary cash flows, this portfolio must contain products that have a range of price-marginal manufacturing cost differentials. 

By determining these indices for drugs and excipients a portfolio of material properties can be assembled, and by using these indices, excipients can be rationally chosen to overcome an undesirable characteristic of the API. In other words the indices of the individual components and the final formulation can be u.sed to assess the mechanical properties thus, providing an important tool to predicting the quality of the final formulation. 

The next step is to define what the characteristics are of each service we offer in this portfolio. By these characteristics, we are defining the variables of quality itself. Quality would also include, besides technical aspects, those aspects related to communication skills, which are quite valued in customer satisfaction. The cognitive, behavioral, and emotional aspects of communication are thus considered. 

When we study the history of companies, we see what decisions were made and with hindsight can evaluate such moves. Air Products in 1971 purchased Airco. Which products did Air Products add to their portfolio with this purchase How did these products do with respect to market growth and cooperative strength characteristics Find the contribution these operations made to Airco in 1970 and discuss the wisdom of the decision to sell the business. 

Desirable Asset Characteristics 758 HEDGE FUND PORTFOLIOS 768... 

The primary advantage of hedge fund portfohos is that they have provided double-digit returns going back to the 1980s with very low risk. Indeed, hedge fund portfolio volatility is close to that of bonds. With much higher returns and low correlation compared with traditional asset classes, they exhibit the necessary characteristics required to enhance overall portfolio perfotmance. 

Because LBO and VC funds are illiquid, they are not typically included in MV portfolio optimizations. The reason is primarily time consistency of asset characteristics. That is, the risk associated with LBOs and VC funds is multiyear in nature. It cannot be equated directly with the risk of stocks. 

We perform an analysis in which we compare bonds with similar characteristics within the same industry. This is a common analysis undertaken by bond portfolio managers looking to invest in a particular industry. 

Inflation-linked bonds also have different behavioural characteristics to other assets. They form a distinct asset class offering portfolio diversification benefits. This can be demonstrated using efficient frontier analysis. However, we should bear in mind what has already been said in the... 

In Exhibits 8.14 and 8.15, we use the same data to construct two efficient frontiers of portfolios—one without index-linked gilts as an available asset choice and one where index-linked can be selected. For the first frontier below, without linkers, gold is still selected for the lowest risk portfolios because of its diversifying characteristics, in spite of its dreadful risk-return trade-off over the 21 years. Flowever, it quickly disappears from optimal portfolios along the frontier if risk tolerance is raised a tiny bit. The asset mixes of a selection of portfolios along the frontier are also detailed. 

Analysing the collateral characteristics of a credit card portfolio is essential because it tells us how the transaction is likely to perform. The major characteristics we focus on are ... 

The purpose of this section is to review the most common types of auto and consumer finance products that are offered to customers and that have traditionally been included in ABS transactions. We then describe the fundamental characteristics of auto and consumer loan portfolios and discuss common ways of analysing them. 

The performance of a pool of assets is affected by the borrowers willingness and ability to repay their debt. A key performance characteristic that measures this is the amount of delinquencies in a pool. Delinquencies refer to the number of days that a borrower has failed to make payments when due and tends to be a reliable indicator of the (anticipated) trend of charge-offs in a portfolio. 

Investors are often attracted to balance sheet CDOs because they provide investors with a higher return relative to more traditional ABS when compared on a rating equivalency basis, that is, the incremental spread is attributable to the fact that CDOs tend to be less liquid and more complex. Investors also see value in the diversification they offer when included as part of a broader, more traditional structured finance portfolio. For reference, a typical bank balance sheet CLO has the following capital structure characteristics ... 

The bond portfolio has the following characteristics Modified duration is 7.4908 yield is 4.595%, current valuation is 300,000,000. The BPV of the Euro-Bund future is 72.03. 

The above examples have focused on the use of the Euro-Bund future as a vehicle for achieving a particular bond portfolio exposure. As indicated earlier, there are several other futures contracts available in the European arena and these could be used in the same way as described above. The futures contracts could also be used to alter the maturity characteristics of the portfolio by using, for example, futures contracts constructed around shorter or longer dated instruments than those currently held in the portfolio. The fact that the contracts can be bought or sold on margin, that the major contracts are liquid and span the European markets, and their flexibility of use make them essential financial market instruments. 

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