Illiquid Investments definition

Illiquid Investments means investments which may not be readily disposed of in a marketplace where such investments are normally purchased and sold and public quotations in common use and in respect thereof are available. Examples of Illiquid Investments include limited partnership interests that are not listed on a stock exchange and securities of private companies, but do not include Flow-Through Shares of publicly listed issuers with resale restrictions, unlisted Warrants, which expire on or before December 31, 2022, or Flow-Through Shares or other securities of a special purpose private company or partnership formed to undertake a specific resource property exploration or development program, the securities of which are convertible by the Partnership into shares of a listed Resource Issuer.

Illiquid Investments means global securities or other assets that cannot easily be sold or exchanged for cash without a substantial loss in value. These investment strategies per the Investment Policy include illiquid equities (hedged and private equity), illiquid credit (private and distressed debt and hedged credit) and illiquid real assets (illiquid real estate, illiquid real assets and market-neutral strategies). These assets are designed to provide the portfolio with higher risk-adjusted returns and/or enhanced diversification. Illiquid investments were typically referred to as alternative assets in prior versions of this Policy.

Illiquid Investments means (a) Unquoted Investments that do not qualify as Semi-Liquid Investments; (b) CDO Debt Securities that are not rated "BBB-" or better by S&P; (c) Bank Loan Participations (other than (x) Bank Loan Participations that qualify as Semi-Liquid Investments and (y) Bank Loan Participations which may be converted into a Bank Loan assignment at the option of the Issuer); and (d) Private Equity Securities.

Examples of Illiquid Investments in a sentence

• Illiquid Investments Funds may invest in assets which are illiquid or subject to a minimum holding period.

• The use of external counsel is prudent and necessary due to rapid changes in regulation of global Liquid Investments and Illiquid Investments and the knowledge and experience of external counsel regarding the legal issues arising from those Investments.

• Type Maximum % PortfolioCashGovernment Bonds EquitiesInvestment Funds Investment Bonds Corporate Bonds Unquoted Investments Illiquid Investment FundsDerivative Hedging Instruments Investment In One Security* Exposure to Any One Issuer*Exposure To Any One Deposit Taking Institution Illiquid Investments** in Total* Excluding Deposits** Refers to any investment where liquidity not available within a monthType Minimum % PortfolioCashBase Currency of Portfolio A.

• The Chief Investment Officer is responsible for selection of Illiquid Investments, and may elect to use the services of the Board Investment Strategic Consultant and the CIO Investment Consultant to review and analyze the most appropriate investments from a comprehensive universe of investment opportunities.

• Additionally, in accordance with the Trust’s Liquidity Risk Management Program, the Adviser shall be responsible for classifying assets of the Fund into at least one of four liquidity categories on a daily basis, and notify the Trust immediately if the Fund exceeds the 15% limit in Illiquid Investments or falls below its Highly Liquid Investment Minimum, if any.

More Definitions of Illiquid Investments

Illiquid Investments means an Investment Asset which is deemed by the Directors, after consulting with the investment manager (if any) and the Custodian: (a) to be illiquid, on the basis that the manager of the Investment Assets has suspended redemptions on the Investment Asset or the Investment Asset is represented by shares which are not redeemable at the option of the holder; or (b) the value of which is both (i) not readily or reliably ascertainable and (ii) not readily or reliably realisable. Once an Investment Asset has been deemed to be an Illiquid Investment under one of the above tests, it will remain an Illiquid Investment until the Directors, after consulting with the investment manager (if any) and the Custodian, determine that it ceases to fulfil both of the above tests. For the purpose of this definition, any determination to be made by any relevant party shall be made in good faith and in a commercially reasonable manner;

Illiquid Investments means any investment that has any material condition to or restriction on the ability of the Borrower or any assignee to sell, assign, transfer, pledge, hypothecate or otherwise encumber or liquidate the same in a commercially reasonable time and manner, whether or not such condition or restriction is intrinsic to such investment, provided that any condition or restriction that could reasonably be expected to (a) prohibit or delay any such sale, assignment, transfer, pledge, hypothecation, encumbrancing or liquidation for more than seven (7) Business Days, or (b) require any payment (other than a nominal amount) in connection therewith, shall be deemed to be such a material condition or restriction within the meaning of this defined term.

Illiquid Investments means (a) Unquoted Investments that do not qualify as Semi-Liquid Investments; and (b) CDO Debt Securities that are either (A) not rated "Baa3" or better by Moody's or (B) rated "Baa3" and placed on a credit watch with negative implication by Moody's.

Illiquid Investments means (a) Unquoted Investments that do not qualify as Semi-Liquid Investments.

Illiquid Investments means investments in the Castles, Private Equity Funds and investments in special investment accounts at Hedge Funds.

Illiquid Investments means investments that are not redeemable as frequently as Units of the Fund or cannot be traded on an exchange or alternative trading system, and exclude, for the avoidance of doubt, the Northfront Alternative Asset Fund.“Direct Investments” means equity, warrants, convertible bonds, fixed income securities, private debt, bonds, notes and other income generating securities of private or public issuers purchased by way of private placements, including, for the avoidance of doubt, infrastructure and real estate fixed-income securities.

Illiquid Investments means investments that may not be readily disposed of in a marketplace where such investments are normally purchased and sold and public quotations in common use in respect thereof are available. Examples of Illiquid Investments included limited partnership interests that are not listed on a stock exchange and securities of a Private Company, but do not include Flow-Through Shares of publicly listed companies with resale restrictions which expire on or before December 31, 2017.