taux de rendement sur l’avoir des sociétaires

English translation: return on unitholders equity

15:43 Dec 9, 2009
French to English translations [PRO]
Bus/Financial - Investment / Securities
French term or phrase: taux de rendement sur l’avoir des sociétaires
This is about a utility listed on the Toronto stock exchange as in income trust, so logically "sociétaires" should be unitholders, but can't find confirmation of this anywhere.

Can I go with "return on unitholders' equity"?

Is there an important difference between "taux de rendement sur l’avoir des sociétaires" and "taux de rendement sur l’avoir des actionnaires"? In a regulatory context, can I just translate both as ROE?
John Detre
Canada
English translation:return on unitholders equity
Explanation:
Hi John! I don't see a problem with this - IMO more important is the income trust aspect than the utility/regulatory aspect (but I could be wrong).

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Note added at 27 mins (2009-12-09 16:10:51 GMT)
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Is it electricity?
Selected response from:

Desdemone (X)
Local time: 01:47
Grading comment
Thanks everyone. The client was happy with "return on unitholders' equity."
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2return on unitholders equity
Desdemone (X)
3 -1return on members' assets
Rob Grayson


  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
return on members' assets


Explanation:
Whenever I've come across "sociétaires", it has been in relation to "mutual" companies of some type or other (usually banks or insurers). I therefore suspect this is also the case here. (You may, of course, decide to go with "unitholders" if you feel it effectively conveys the same meaning in context and using "members" doesn't add anything useful.)

I'm struggling to see why you would treat "avoirs" as anything other than "assets". ROE is often a published accounting item, whereas "rendement sur avoirs" may well just be referring to the gross returns generated by the company/organisation on its members'/unitholders' funds.

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Note added at 24 mins (2009-12-09 16:07:23 GMT)
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"Return on capital" looks quite promising: http://www.google.co.uk/#hl=en&source=hp&q="income trust", "...

Rob Grayson
United Kingdom
Local time: 04:47
Specializes in field
Native speaker of: English
PRO pts in category: 62
Notes to answerer
Asker: Thanks Rob. I was going to use ROE because it’s in the context of a rate-setting regulatory proceeding, and I think it’s standard practice for regulatory agencies to include a reasonable return on equity for investors when setting tariffs of regulated companies. But I’m out of my depth here. Is there a compelling reason not to call it ROE when it’s an income trust?


Peer comments on this answer (and responses from the answerer)
disagree  joehlindsay: I think this is accurate for the UK, but maybe not North America. Please see discussion entry.
5 hrs
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23 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
return on unitholders equity


Explanation:
Hi John! I don't see a problem with this - IMO more important is the income trust aspect than the utility/regulatory aspect (but I could be wrong).

--------------------------------------------------
Note added at 27 mins (2009-12-09 16:10:51 GMT)
--------------------------------------------------

Is it electricity?


    Reference: http://www.enervest.com/main/page.php?page_id=1
    Reference: http://www.investmentexecutive.com/client/en/News/DetailNews...
Desdemone (X)
Local time: 01:47
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks everyone. The client was happy with "return on unitholders' equity."
Notes to answerer
Asker: Thanks Paula. No, it's natural gas. Does it make a difference?


Peer comments on this answer (and responses from the answerer)
agree  joehlindsay: Having done business in Canada for several years, I noted that 'unitholder' is a more common term there than in the US and UK. Google confirms. Don't know why.
40 mins

agree  Chris Hall
1 hr
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