CIFC key terms

The combined effect of income and investment-value change over a stated period, measured consistently with cash-flow and reinvestment assumptions.

The change in purchasing power after adjusting nominal investment growth for inflation, using the approximation or exact relationship specified.

A measure of a bond or portfolio’s sensitivity to small interest-rate changes under its assumptions, distinct from credit quality or a return guarantee.

Combining different underlying exposures to reduce concentration, while recognizing that shared economic drivers and broad market losses can remain.

A fund’s assets less liabilities, expressed per unit by dividing net assets by the applicable number of units outstanding.

A particular arrangement within a fund that can carry different fees, eligibility or service features despite shared underlying portfolio exposure.

The difference between a tracking fund’s return and its stated benchmark on a compatible basis, affected by costs and implementation conditions.

A payment or allocation from a fund that must be considered with its source and unit-value effect rather than treated automatically as extra wealth.

The client’s willingness to accept uncertainty and loss, assessed separately from the financial ability to withstand the consequences of that loss.

The client’s financial ability to bear adverse investment outcomes in light of resources, obligations, liquidity and the purpose of the funds.

A requirement for accessible cash at a relevant time, which can constrain investment choice even when the client has substantial total wealth.

The extent to which combined holdings depend on a limited set of issuers, sectors, currencies or economic drivers, including overlap across funds.

The cost basis used in a disposition calculation after applicable acquisitions and adjustments, requiring records of reinvestment and relevant return-of-capital amounts.

A distribution component that generally reduces adjusted cost base under the applicable rules, rather than automatically representing additional earned return.

The rate applied to an additional taxable amount under the relevant assumptions, not necessarily the average rate across all income.

A postponement of taxation under an applicable arrangement, distinct from a permanent exemption, contribution-room entitlement or investment performance guarantee.

An interest or incentive significant enough to require assessment and an appropriate response under the applicable client-focused and firm requirements.

A signed document with incomplete information that can undermine evidence of genuine client review and authorization when later entries are added.

A direction genuinely provided by the client or properly authorized person through the required process, rather than inferred from familiarity or convenience.

The fair assessment, communication, record and escalation process for a client concern, distinct from an unrelated sales or retention incentive.

Concise Canadian mutual-fund disclosure presenting key information for the particular fund and series, not an individualized suitability decision or return guarantee.

The defined scope of regulated activities a person or firm may conduct under the applicable framework, separate from a course-completion claim.

The arrangements for holding and safeguarding assets, which must be distinguished from investment management and the risk of market-value changes.

A historical course subject area retained for study, without implying that its former provider, booking process or syllabus remains currently available.