S
- The issue of new share certificates to existing
shareholders to reflect an accumulation of profits on a company's
balance sheet.
- The general name for stocks and shares.
- A state
pension in addition to the basic state pension based on earnings,
to be renamed State Second Pension (S2P).
- A stake in a company which entitles you to vote
at annual meetings and benefit from the company's profits in the
form of a dividend.
- A SICAV or "société
d'investissement à capital variable"
is an open-end investment trust. Its social object is not to manufacture
a product or to provide a service, but to invest in financial or
real estate assets.
- Another name for small companies.
- The Society of Financial Advisers, the professional
and educational body for financial advisers. It awards qualifications
for progressive levels of examination achievement.
- Small Self Administered
Scheme, an occupational scheme where the members are trustees and
are directly responsible for administering the fund and paying
out the benefits. Some funds are invested in assets other than
insurance premiums.
- New low cost pension schemes introduced
by the government in 2001 to encourage people to make provision
for their financial future. They are aimed at those who may not
have been able to afford a personal pension and were not eligible
for an occupational or group scheme.
- The marketplace for the sale and purchase
of shares, government bonds and other securities.
- Moving an investment out of one fund and into
another.
T
- The process whereby the tax rates in
the countries of the European Union are being equalised to make
trade easier and ensure that no country has a competitive advantage
over another.
- A life assurance contract with a fixed
term and a sum assured which is paid out only if the life assured
dies within the term specified.
- Tax-exempt special savings accounts replaced by
ISAs in 1999. You can no longer invest in a new TESSA but you can
transfer your existing TESSA into an ISA.
- Financial advisers who have an agreement with
one particular company to recommend its products. They can range
from self employed individuals to banks and building societies
and can give you advice on your financial circumstances but they
cannot survey the whole market for you.
- The combination of capital growth and reinvested
income at the end of any given period.
- The amount of money which is available
to be transferred to another pension arrangement.
U
. A Ucits fund is theoretically
one that is authorised for sale in any of the EU member states.
However, many EU countries also have their own requirements which
must be fulfilled if a fund is to be offered for sale there.
- An insurance policy in which the benefits
depend on the performance of units in a fund invested in shares,
bonds and property.
- An investment contract which invests in a
variety of different stocks and shares and is divided into units
which are issued to its members instead of shares.
V
- A mortgage product where the amount
of the monthly payment goes up or down in accordance with variations
in the interest rate, based on the Bank of England rate.
- VCT's were devised
in the 1993 budget as a way for new and unquoted companies to obtain
money from investors. VCT's are essentially investment trusts.
Like other investment trusts their shares are often traded in the
stock market. Investors receive tax relief at 20% on the money
they put in. Any dividends or capital gains will also be free of
tax.
- A form of indirect taxation levied
on goods and services.
- The degree by which share prices in a particular
market or sector go up or down.
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