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This question was closed without grading. Reason: No acceptable answer
Apr 21, 2015 12:38
9 yrs ago
6 viewers *
Danish term

afdeling

Danish to English Bus/Financial Finance (general) Fund management report
I am translating an annual fund management report. Trying to avoid overuse of the word 'fund'.
Translating 'afdeling' as fund here appears to fit but if 'kapitalforening' is a 'capital fund' this will be confusing.

Example of context:
'Foreningen ændrede pr. 22. maj 2014 status til en
alternativ investeringsfond (kapitalforening) under lov om
forvaltere af alternative investeringsfonde m.v.
Foreningen havde pr. 31. december 2014 én afdeling:'

Is 'fund' is correct for 'afdeling' here? If so, is 'capital fund' correct for 'kapitalforening'?
Proposed translations (English)
4 compartment
3 fund class; fund classification; division
1 sector
References
fund of funds division

Discussion

TechLawDC Apr 23, 2015:
Asker has arrived at satisfactory solution. After reading the discussion, it becomes apparent that "kapitalforening" is mutual fund company, and "afdeling" is mutual fund.
Susan P Best (asker) Apr 23, 2015:
Chris S, your contribution was the most helpful and the translation I am going with. If it was an answer I would be awarding my points to you. Thank you.
Christopher Schröder Apr 22, 2015:
Afdeling is simply what the Danish call a fund. Kapitalforening is harder to deal with - they like to call it capital association of course but all it is is an investment company.
TechLawDC Apr 22, 2015:
Portfolio is a subpart of fund. (Unfortunately it was difficult for me to find an appropriate reference on Google. This is because "portfolio" is also used to describe a set of investments in mutual funds.)
Susan P Best (asker) Apr 21, 2015:
I could perhaps use 'capital portfolio' for 'kapitalforening' and 'fund' for afdeling'? It would at least make sense throughout the text but I am not sure if there is a definitive correct term for each?
Susan P Best (asker) Apr 21, 2015:
Here is another piece of context which actually has 'forening' and 'afdeling' together:
'Målet med foreningens afdeling, som følger en aktiv
investeringsstrategi, er at opnå et afkast, der følger
afdelings afkastmål, som findes på hjemmesiden.'

Any help appreciated.
Susan P Best (asker) Apr 21, 2015:
No, it cannot be office in this context.
Here is another section of text for context:
'Ønsker investor f.eks. en meget stabil udvikling i sine
beviser, bør man som udgangspunkt ikke investere i en
afdeling med høj risiko (altså en afdeling, der er markeret
med 6 eller 7 på risikoindikatoren).'
'Fund' fits in each context but then what about 'kapialforening'?
David Young (X) Apr 21, 2015:
Doesn't this mean "branch"? Or "office" even - i.e. the location from which the fund management is carried out.
That is my immediate response but maybe this is one of those cases where more context is needed.

Proposed translations

43 mins

compartment

This is how they are officially called by Finanstilsynet - compare e.g. the two documents below.

--------------------------------------------------
Note added at 43 mins (2015-04-21 13:22:07 GMT)
--------------------------------------------------

Oops, sorry, the second link is http://www.finanstilsynet.dk/da/Indberetning/Soeg-tilladelse...
Reference:

http://www.finanstilsynet.dk/en/Indberetning/Soeg-tilladelse/Ansoeg/Ansoegning-om-tilladelse-til-markedsfoering-af-AIF-fra-tredjeland.aspx

http://www.finanstilsynet.dk/en/Indberetning/Soeg-tilladelse/Ansoeg/Ansoegning-om-tilladelse-til-markedsfoering-af-AIF-fra-tredjeland.aspx

Peer comment(s):
neutral TechLawDC : "Compartment" is ingenious, but I have never seen it used in mutual fund industry literature.
28 mins
It's a specifically Danish and Luxembourgish thing.
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1 hr

fund class; fund classification; division

(As seen, different fund classes within the forening (the fund company) have different benchmarks (return targets).)
Many examples could be found on Google.

--------------------------------------------------
Note added at 1 hr (2015-04-21 13:46:58 GMT)
--------------------------------------------------

(I had not seen Larsen's reference entry when I independently arrived at "division" as a familiar term in this context.)
Note from asker:
Thank you, Chris S, for your answer. You confirm the conclusion that I have come to. So far I have used 'fund company' and 'fund' for 'kapitalforening' and 'afdeling' and it works in each context. I came across 'Association' and 'compartment' suggested elsewhere her but I cannot help feeling they are poor or literal translations of the Danish?
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1 hr

sector

…
Reference:

http://www.sydinvest.dk/afdelinger.aspx

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Reference comments

1 hr
Reference:

fund of funds division

Fund of funds - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Fund_of_funds
A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. This type of investing is often referred to as multi-manager investment. A fund of funds may be "fettered", meaning that it invests only in funds managed by the same investment company, or "unfettered", meaning that it can invest in external funds.

There are different types of "fund of funds", each investing in a different type of collective investment scheme (typically one type per FoF), for example "mutual fund" FoF, hedge fund FoF, private equity FoF, or investment trust FoF. The FoF, where the fund invests in funds managed by its own company are called fettered. The unfettered FoF allows manager to invest in funds run by other managers.


FORMUEPLEJE MERKUR A/S - Worldwide Company Profile
listofcompanies.co.in/ca/formuepleje-merkur-as/
FORMUEPLEJE MERKUR A/S Previous company name Name change date Company ... ***Formuepleje Merkur A/S is a division of Formuepleje A/S, an investor*** ...

FORMUEPLEJE MERKUR A/S - Worldwide Company Profile
listofcompanies.co.in/ca/formuepleje-merkur-as/
Formuepleje Merkur A/S is a Danish-based investment fund. The company's investment portfolio consists of the other Formuepleje funds and has an ... An active firm, Formuepleje Merkur A/S has registered corporate office at Aarhus, Denmark. ....

Fund Info FPKMER, Formuepleje Merkur KL, (DK0060498426)
www.nasdaqomxnordic.com/Funds/FundInfo?Instrument=CSE95677
INVESTERINGSPROFIL
Afdeling Formuepleje Merkur er en ***funds of funds afdeling***, som primært investerer sin formue i andre investeringsforeninger, hedgeforeninger, hedgefonde, alternative investeringsfonde, investeringsselskaber, strukturerede produkter og andre kollektive investeringsordninger og -institutter. ***Afdelingen investerer således i flere aktivklasser og strategier*** ud fra målsætningen om, at forholdet mellem forventet afkast og risiko søges optimeret for den samlede portefølje. Strategien sigter på, at afkast/risiko-profilen er anderledes end for traditionelle investeringsforeningsafdelinger, der investerer i obligationer og aktier. Afdelingen kan dog investere sin formue direkte i obligationer og aktier, herunder tilsvarende finansielle instrumenter, der afregnes kontant. og er omfattet af lov om finansiel virksomhed bilag 5. Over 5 år er målet et afkast målt på indre værdi på 50 procent. I øvrigt henvises til Væsentlig Investorinformation.

Formuepleje Merkur - Investering i de øvrige ...
www.formuepleje-merkur.dk/
Formuepleje Merkur er opkaldt efter handelsguden Merkur og investerer både kortsigtet og langsigtet i de øvrige Formuepleje-selskaber.
Peer comments on this reference comment:
neutral TechLawDC : A "fund of funds" is a mutual fund the holdings of which are principally other mutual funds. That is not the context here.
8 mins
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