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  1. china18888 New Member

    Toronto
    English French
    Hello guys

    I need your help here. So here's the sentence: "The Fund invests in securities to gain exposure to Canadian equity securities."

    I translated it like this " Le Fonds investit dans les titres pour ................... aux titres de capitaux propres canadiens.

    I was tempted to translate 'gain exposure' into 'gagner exposition' but I dont think it makes sense in french.

    Voila....

    I'm waiting for your suggestions.

    Thanks again
     
  2. melu85 Senior Member

    Paris
    France/French
    what would be synonymous of 'gain exposure'? to compete with?
     
  3. hunternet

    hunternet Senior Member

    Paris
    France - French
    it could be "gagner en visibilité / avoir accès au / se faire une place sur le marché des instruments financiers..."...

    we need more information here.
     
  4. Missrapunzel

    Missrapunzel Senior Member

    Paris
    French (France)
    Gagner en visibilité is excellent! :thumbsup:
     
  5. china18888 New Member

    Toronto
    English French
    Hello

    "Avoir accés au" is perfect. It totally makes sense in this context.

    Thank you soooo much hunternet.

    Have a nice day

    Thanks to melu85 too.
     
  6. bh7 Senior Member

    Limestone City
    Canada; English
    No, it isn't; "to gain exposure" is finance jargon, universally used, and means "to gain risk exposure", i.e., to hold some type of asset and participate in possible future market price changes of this asset. And it's usually rendered into French as china18888 tentatively suggested.

    Example: en fonction des écarts de défaillance de crédit attribuables à une exposition à MBIA Inc.
     
  7. china18888 New Member

    Toronto
    English French
    Hello

    So it is:

    "Le Fonds investit dans les titres pour l'exposition au risque de titres de capitaux propres canadiens."

    But I dont like how it sounds.
     
  8. bh7 Senior Member

    Limestone City
    Canada; English
    Well, that may be so, but we have to acknowledge that even the very fastidious GDT was unable to suggest for "risk exposure" and "risk exposure level" anything less anglo-sounding than "exposition à un risque" and "exposition au risque".:)
     
  9. Kelly B

    Kelly B Senior Member

    USA English
    It seems to me that the emphasis isn't so much on taking on risk, as on participating/investing in that market, though probably at a relatively low level. Can you say something like participer à / avoir une participation aux titres...?
     
  10. bh7 Senior Member

    Limestone City
    Canada; English
    Investing in equity securities automatically brings with it risks, but also the prospect of reward. The word "exposure" as used in finance has both connotations. The title of the thread "gain exposure" puts the stress on the possible reward, because most investors are perennial optimists, but it is understood that there are underlying risks, that "exposure" cuts both ways. To minimise overall risk, investors must hold a balanced portfolio of assets, one that has exposure to assets of all risk classes. The fund manager in the target sentence puts readers on notice that this particular fund will not be balanced but hold mostly Canadian shares. The actual size of the investment may be large or small, but in the case of a mutual fund one should expect it to be sizeable (in the millions of dollars at least, if not tens of millions).
     
  11. hunternet

    hunternet Senior Member

    Paris
    France - French
    That's what I thought at first glance, then I added the input "avoir accès au marché canadien des valeurs mobilières".



    Yes, but that's not the point here I think. Of course the securities market implies any type of risk, but in the sentence the point is clearly to show that the company invests in securities to enter the market.
     
  12. bh7 Senior Member

    Limestone City
    Canada; English
    Well, my point really was that "exposure" implies not just risk exposure but also exposure to possible reward.

    In any case, the sentence that we're discussing speaks of investing in some securities to gain exposure to Cdn equity securities. It is clear that the two groups of securities are not necessarily identical. It's quite possible to take derivatives positions which mimic the effect of buying Cdn shares directly (e.g., TSX60 index options). The general wording used here allows the fund manager the greatest degree of latitude in selecting how to obtain the desired exposure to the Cdn equity market. "Gaining exposure" means, in general, finding and taking a position in any reasonably liquid, publicly traded security whose expected return is highly positively correlated with the expected return on Cdn equity shares (as measured by some broad index, such as the TSX 60), so that the derivative security can serve as a (cheaper & more efficient) proxy for direct share purchases. Buying the Cdn equity shares directly is merely one possible (but expensive) way of obtaining exposure to the Cdn equity market.
     
  13. china18888 New Member

    Toronto
    English French
    Hello,

    yeah "exposition au risque" is definitely the right translation.

    Thanx again for your detailed responses.
     

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