Lola - that investopedia link isn't that useful in the context of nikko's question.
A carve-out is a sub-set of a portfolio�s assets used to create a track record for a narrower mandate from a portfolio managed to a broader mandate. For example, the Asian securities from a Euro-Pacific portfolio or the equity portion of a balanced portfolio could be considered a carve-out. Carve-outs are generally based on asset class, geographic region, or industry sector.
Edited 1 time(s). Last edit at Wednesday, August 1, 2007 at 09:31AM by spud99.