Both malpractices harm the interests of long term investors as they dilute their return and have detrimental effects on AIF’s returns as they increase transaction costs and disrupt portfolio management.

Both malpractices harm the interests of long term investors as they dilute their return and have detrimental effects on AIF’s returns as they increase transaction costs and disrupt portfolio management.

A portfolio management practice, which aims to offset the significant risks linked to an investment in a well diversified portfolio of shares by taking a short position on a stock market index future, where the composition of the equity portfolio is very close to that of the stock market index and its return highly correlated to that of the stock market index and where the short position on the stock market index future allows an unquestionable reduction of the general market risk related to the equity portfolio and the specific risk is insignificant, such as a beta-hedging of a well-diversified equity portfolio wher ...[+++]e the specific risk is considered to be insignificant, should be considered as complying with the hedging criteria.

A portfolio management practice, which aims to offset the significant risks linked to an investment in a well diversified portfolio of shares by taking a short position on a stock market index future, where the composition of the equity portfolio is very close to that of the stock market index and its return highly correlated to that of the stock market index and where the short position on the stock market index future allows an unquestionable reduction of the general market risk related to the equity portfolio and the specific risk is insignificant, such as a beta-hedging of a well-diversified equity portfolio wher ...[+++]e the specific risk is considered to be insignificant, should be considered as complying with the hedging criteria.

It will also develop with the energy supply industry guidelines on good operating practices for existing capacity to raise average generation efficiency for all plants and agree guidelines on good regulatory practices to reduce transmission and distribution losses.

(59) taking into account traditional conditions of production, the nature and scope of the factors which enable each of the quality wines psr to be distinguished must be listed and defined; a common move to harmonise quality requirements should nevertheless be made; these factors should be: the demarcation of the area of production, vine varieties, cultivation methods, wine-making methods, minimum natural alcoholic strength by volume, yield per hectare and analysis and assessment of organoleptic characteristics; particular rules should be laid down for quality liqueur wines psr and quality sparkling wines psr given the particular natu ...[+++]re of those products;