- хедж-портфель
- портфель хеджирования
- хеджевый портфель
- портфель финансовых инструментов минимизации рисков
- портфель хеджевых инструментов
- портфель инструментов хеджирования рисков

По аналогии с "trading book" = торговый портфель, совокупность торгуемых активов/инструментов.

Вариант условного перевода:
Одной из целей (задач) программы страхования корпоративных рисков является обеспечение минимизации потерь за счет значительного увеличения части хеджевого портфеля в ходе (посредством) портфельной диверсификации.

Не совсем уверен насчет точности перевода "downside participation", но вот например, насколько я помню по сотрудничеству со Smith Barney, слэнговое "upside/downside capture" - это "фиксация прибыли/потерь (убытков)", или, например, "downside measure" - мера (уровень) потерь (по отношению к чему-то).
То есть, возможно, потери от участия в чем-то.




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Note added at 6 hrs (2011-04-01 06:22:58 GMT)
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What Does Trading Book Mean? The portfolio of financial instruments held by a brokerage or bank. The financial instruments in the trading book are purchased or sold to facilitate trading for their customers, to profit from spreads between the bid/ask spread, or to hedge against various types of risk.

Investopedia explains Trading Book
The trading books for large financial institutions can be worth billions of dollars.
http://www.investopedia.com/terms/t/tradingbook.asp


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Note added at 6 hrs (2011-04-01 06:24:44 GMT)
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downside
Definition: The potential for loss for a given investment or activity.
http://www.investorwords.com/1569/downside.html


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Note added at 6 hrs (2011-04-01 06:36:40 GMT)
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Risk-Management Principles for the Utility CEO

Principle #4: Each trading book is allowed only one benchmark and one objective.

Multiple objectives from trading must be separated into different trading books. For example, if you both want to hedge and to profit from speculation, you probably should have a hedging book and a spec book (спекулятивный портфель и портфель страхования рисков). Recognizing that the agencies hate terms like "spec book," you might want to call this by another name.

Notwithstanding the books' designations, each book may have only one benchmark. The hedge book, for example, should take as a benchmark the unhedged asset position, perhaps net of any marketing contracts. This is specific and achievable by hedging nothing financially. The goal of the hedge book should be either to reduce risk by a certain amount or percentage relative to the native asset position, or to reduce risk only when the expected cost of doing so does not exceed, say, 25 percent.

http://www.pur.com/pubs/4383.cfm