- •Курс англійської мови для фінансистів
- •Unit 1 financial markets. The bond market
- •Text trading in the bond market
- •Vocabulary list
- •Exercises
- •The Eurobond Market
- •French Government Securities
- •The Chinese Bond Market
- •Discussion
- •Eurobond Market
- •In order to get prepared for participation in the class discussion of the above questions, write a short essay on the following:
- •Reading practice
- •Us Government Securities
- •Borrowers Pile Up the Yankees
- •Unit 2 financial markets. The stock market
- •Text stocks and markets
- •The corporate securities market in russia
- •Vocabulary list
- •Exercises
- •Equity Market
- •The New York Stock Exchange
- •Discussion
- •A) Bulls, Bears and Stags
- •Reading practice
- •Third and Fourth Markets
- •Investment activity
- •Investments
- •Investment climate
- •Vocabulary list
- •Exercises
- •Think of word combinations with these nouns:
- •Think of the verbs most commonly used with:
- •Write down 3-5 questions about the text.
- •Say what advantages individuals have when they invest in investment companies.
- •Investment Companies
- •Write down 3-5 questions about the text.
- •Explain how most dynamic institutional investors today - pension funds and
- •Food Giants Build Local Yogurt Plants
- •Norwegians to Buy 25% of Vimpelcom
- •Discussion
- •In order to get prepared for participation in the class discussion of the questions, write a short essay on the following:
- •Reading practice
- •Investment Skill Is a Rare Commodity
- •Investment Trusts
- •Foreign Investments in Russia
- •Cornerstone of the global financial market
- •Vocabulary list
- •Exercises
- •Write down 3-5 questions about the text.
- •Describe the components of the global financial markets. Global Financial Markets
- •Managing Exchange Rate Risk. Hedging
- •The Eurocurrency Market
- •Discussion
- •Present them in a short review.
- •Discuss the problem raised in the text. Tougher Measures Needed to Counter Macroeconomic Effects of Money Laundering
- •In order to get prepared for participation in the class discussion of the questions, write several short paragraphs about:
- •Reading practice
- •Foreign Exchange Swaps
- •Foreign Exchange Options
- •Unit 5 financial management
- •Text finance function
- •Financial ratios
- •Ratio analysis
- •Vocabulary list
- •Exercises
- •Write down 3-5 questions about the texts.
- •Say in what activities financial managers are involved.
- •Financial Capital
- •Discussion
- •Corporate Governance
- •Investment Management
- •In order to get prepared for participation in the class discussion of these questions.
- •Reading practice
- •Capital Structure and Cost of Capital
- •Liquidation
- •The Cash Flow Concept
- •Unit 6 accounting
- •Accounting principles and concepts
- •Accountancy in a free-market economy
- •Public and private accountants
- •Vocabulary list
- •Exercises
- •Accounting Records
- •Accountancy Profession
- •Discussion
- •Accounting Methods .
- •In order to get prepared for participation in the class discussion of the questions, write a short paragraph, explaining:
- •Reading practice
- •Green Accounting
- •Unit 7 international monetary system
- •International monetary institutions
- •Imf's support for russian reforms
- •Vocabulary list
- •Exercises
- •Make your own sentences with any five word combinations from (b) and (c).
- •Match the verbs from (a) with the nouns from (b) below:
- •Write down 3-5 questions about the text.
- •Describe the purposes for which the imf was set up.
- •International Monetary Fund
- •Write down 3-5 questions about the text.
- •Describe the purposes for which the organization was set up. Your Partner ebrd
- •Fiftieth Anniversary of the Bretton Woods Conference
- •Sum up the text in 5-7 sentences and present your summary in class.
- •Describe the World Bank's activities. Say how they differ from those of the imf.
- •Discussion
- •Fiscal Issues Are a Growing Concern of the imf
- •In order to get prepared for participation in the class discussion of the questions, write a short essay on:
- •Reading practice
- •Some Facts About the sdr
- •Literature
- •Contents
- •Курс англійської мови для фінансистів
- •83050, М. Донецьк, вул. Щорса, 31
- •83023, М.Донецьк, вул. Харитонова,10.
Investment Trusts
Small shareholders who do not have enough money to invest in a wide-range portfolio buy shares in investment trusts.
Investment trust is a public corporate body which invests funds in a wide range of stocks and shares, thus "spreading the risk" more effectively than could be achieved by an individual investor with much smaller funds. The capital of the investment trust is derived mainly from public issues of debentures, preference shares and ordinary shares, which are quoted on the stock exchanges.
Investment trusts can be of two types. Open-end investment fund is an investment fund that is open in the sense that it issues new shares every time that it receives new money from investors - unlike a closed-end investment fund, which issues a limited number of shares that are then traded only in a secondary market. Closed-end investment companies do not stand ready to purchase their own shares whenever one of their owners decides to sell them. Instead their shares are traded either on an organized exchange or in the over-the-counter market.
Most closed-end funds have unlimited lives. Dividends and interest received by a closed-end fund from the securities in its portfolio are paid out to its shareholders.
However, most funds allow the reinvestment of such payments.
Besides, there are so called Real Estate Investment Funds. REIFs have existed for over 30 years. They are essentially (although not legally) closed-end investment companies that invest in real estate instead of financial assets. Similar to true investment companies, as long as 95% of their income is distributed to shareholders, it is free from taxation. Further, at least 75% of their assets and income must be derived from real estate equity or mortgages. REIFs must also have at least 100 shareholders. Their portfolios must be diversified, and no more than 30% of their income may come from selling properties held for less than four years. (This last requirement is designed to prevent REIFs from becoming vehicles for real estate speculation.)
REIFs engage in a common financial intermediation process known as securitization. A REIF manager converts (securitizes) properties into financial assets by purchasing properties for the REIF. In order to finance the purchases the REIF manager issues freely tradable ownership shares.
Words you may need:
Англійський варіант derive v real estate investment fund
securitization
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Російський варіант получать, извлекать учреждение, специализирующееся на инвестициях в недвижимость «секьюритизация» (процесс повышения роли различных видов ценных бумаг как формы заимствований) |
Український варіант одержувати, витягувати установа, що спеціалізується на інвестиціях в нерухомість «секюритизація» (процес підвищення ролі різних видів цінних паперів як форми запозичень) |
Ex. 15. Read the dialogue, sum up its content and act it out.