The Baltic Dry Index (BDI) is an index of average prices paid for the transport of dry bulk materials on more than 20 routes.
The BDI is often viewed as a leading indicator of economic activity as index changes reflect supply and demand for important materials used in manufacturing.
The index can experience high levels of volatility because the supply of large carriers tends to be small, with long lead times and high production costs.
Exception 3(c)(7) pertains to a section of the Investment Company Act of the 1940s allowing qualifying private funds to be exempt from certain SEC rules.
3C1 refers to the part of the Investment Company Act of 1940 that exempts certain private equity firms from regulation.
– A firm to be defined as an investment company must comply with certain regulatory and reporting requirements set by the SEC.
Agribusiness is a combination of the words “agriculture” and “business” and refers to any business related to agriculture and commercial activities related to agriculture.
Attribution analysis is an evaluation tool used to explain and analyze the performance of a portfolio (or portfolio manager), especially when compared to a certain benchmark.
Cash and carry arbitrage seeks to exploit pricing inefficiencies between the spot and futures markets for an asset by going long on the spot market and going short on the futures contract.