Block trades are large trades of securities typically executed by institutional investors. The exact definition of what constitutes a block trade can vary based on the security, but generally involves the buying or selling of a large number of shares or bonds at a single price. Executing block trades requires specialized knowledge and skills, such as understanding market liquidity, negotiation, and risk management. Due to their size and potential impact on the market, block trades are typically subject to more regulatory oversight and reporting requirements.

Investment Management refers to the process of managing various financial assets and securities to achieve specific investment goals. This skill involves analyzing market trends, assessing risk, and developing strategies to optimize portfolio performance. Knowledge of Investment Management is used to allocate resources effectively, monitor investment performance, and make informed decisions to enhance returns while managing risk.

Long-Only refers to an investment approach that involves taking positions intended to benefit from rising asset prices without using short selling. It is used in portfolio management, asset selection, and market analysis to build exposure to equities, funds, or other assets expected to appreciate. The skill includes evaluating opportunities, managing risk, and aligning holdings with objectives such as capital growth or income from owned assets.

Securities Research involves analyzing various types of financial instruments, such as stocks, bonds, and derivatives, to make informed investment decisions. It entails gathering and evaluating data related to market trends, company financials, economic indicators, and other relevant factors. By conducting thorough Securities Research, investors can assess risks, identify opportunities, and develop strategies to optimize their investment portfolios.

Separately Managed Accounts (SMAs) refers to a type of investment account in which an investor's assets are managed on a personalized basis by a professional money manager. This requires specialized skills and expertise in portfolio management, asset allocation, and risk management, as well as a deep understanding of clients' needs, goals, and risk tolerance. SMAs are popular among high net worth individuals and institutional investors seeking to achieve specific investment objectives while maintaining a greater degree of control and transparency over their portfolios.