Original text - English - Beyond the unique risk-rewarded profiles they...

Beyond the unique risk-rewarded profiles they offer as stand-alone investments, derivatives also are used widely in investment management to restructure the fundemental nature of an existing port-folio of assets. Typically the intent of this sort of restructuring is to modify the port folio's risk. In this section we review three prominent derivative applications in the management of equity positions, shorting forward contracts, purchising protective puts, purchising equity collars.