The portfolio turnover measures the portion of a portfolio that is replaced on a yearly basis. Several methods of calculation exist. This number can be calculated, for example, as the ratio of the number of purchases or sales (whichever is the lesser) compared to the portfolio’s average asset value.
Private equity refers to investment in equities of companies that are not publicly traded on listed markets.
A put option is a financial contract between two parties where the buyer of the option pays a fee (premium) to have the right, but not the obligation, to sell an agreed quantity of a particular commodity or financial instrument (the underlying) to the seller of the option at a certain time (the expiration date) for a certain price (the strike price.) The seller of the option is then obliged to buy the commodity or financial instrument should the buyer decide to exercise his option.