Undertakings for Collective Investments in Transferable Securities II (UCITS II)

Definition:

UCITS II Directive was drafted in early 1990s to amend the 1985 Directives to more successfully harmonize laws throughout Europe. However, Council of Ministers could not reach a common position and UCITS II was abandoned.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Perfect hedge

A situation in which the profit and loss from the underlying asset and the hedge position are equal.

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