Letter: H I L
Hedge Fund An aggressively managed portfolio of investments that uses advanced investment strategies such as leverage, long, short and derivative positions in both domestic and international markets with the goal of generating high returns (either in an absolute sense or over a specified market benchmark). Legally, hedge funds are most often set up as private investment partnerships that are open to a limited number of investors and require a very large initial minimum investment. Investments in hedge funds are illiquid as they often require investors keep their money in the fund for a minimum period of at least one year
Holding Discount Holding market valuation below owned assets (stand-alone). Following the gradual implementation of the focussing strategy on our core business (tyre & parts), the dismissal of non strategic financial investments and separation from Pirelli RE, Pirelli & C holding discount verus its NAV 8net asset value) went from 24% in December 2008 to 8% in July 2010.
Information brochure Describes the details of a security or stock issued and offered as well as all the information that are required by law in a given country.
Information prospectus It describes the characteristics of a security offered for sale and contains all the information required by the laws of the country where the issue takes place
Insider trading (abuse of privileged information) A crime committed by one or more parties who have access to privileged information - as a result of their participation in a company's capital (shareholders, directors) or of exercising a public function or profession (such as a manager, banker or advisor) - buying, selling or carrying out other operations, also through interposed persons, involving financial instruments and taking advantage of the confidential information. The same offence is also committed by anyone who, without a justified motive, discloses the confidential information or, based on it (even without any compensation), advises others to carry out such operations. The same refers to anyone who buys, sells or conducts other operations, also through interposed persons, based on such information or advice
Institutional investors Common Investment Funds, pension funds, insurance companies, asset management companies and all brokers involved with huge financial resources and many
Internal dealing It refers to operations involving securities listed by the issuer and by its controlled companies, performed by internal persons or people who have access to price sensitive information. Such persons (so-called "relevant persons") must fulfill particular information and behavior obligations
IPO (Initial Public Offering) The initial public issue of shares carried out when a company decides to be listed on the Stock Exchange
Lean stocks Stocks subject to less trading.