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Bullion Gold, silver, platinum or palladium, in the form of bars or ingots. Designed to offset the effects of inflation. Tax year The annual accounting period , also known as the fiscal year or the financial year. Non-profit Insurance cover guaranteeing certain benefits but for which the policyholder bears no investment risk and does not gain or lose if returns differ from expectations. The European Community also takes understanding candlesticks in forex trading part. The opposite of premium. Premium The monetary amount paid for an insurance policy.
Alternative performance measures, alternative performance measures (APMs) are non-gaap measures used by the Aviva Group within its financial publications to supplement disclosures prepared in accordance with other regulations such as International Financial Reporting Standards (ifrs) and Solvency. Depositary bank A bank that holds American depositary shares and sells them to US investors. Money purchase scheme See defined contribution scheme. Calculated once a day. Health insurance A type of policy that provides cover against loss from illness or bodily injury.
Sometimes referred to as loss ratio. The CEO is the head of a company and oversees strategic planning and operational activities. Also a technical term for holdings held by banks at the central bank. Income fund An investment fund that aims to generate current income in the form of dividends or payments from stocks and bonds, rather than capital growth. Plc See public limited company. Bottom up An investment strategy in which companies are considered on their own merit, without regard for industry trends or economic conditions. Risk The measurable probability of loss or less-than-expected returns from an investment, asset or business activity. Investment trusts have fixed capital, so the price of the shares is determined by investors' interest in the company itself, unlike unit trusts, which can buy or sell units in response to demand. International Monetary Fund (IMF) Established following the Bretton Woods agreement of 1944 with a wide-ranging brief to oversee the international monetary system, promote exchange rate stability and encourage international trade.
Orphan estate See inherited estate. Liquidation Process which brings a company's existence to an end after distributing its assets. Corporate responsibility (CR) A term used to describe how companies measure up to standards of business conduct and deal with issues such as sustainability, environmental management, human rights, relations with local communities, customers, suppliers, employees and health and safety at work. To begin with, therefore, cash outflows exceed inflows, creating a strain. Futures markets exist for currencies, government bonds and commodities such as coffee, cocoa, copper and tin. The advantage to the company is that cash resources are retained while the shareholder gets more shares at no cost. Budget deficit The amount by which a government, company or individuals spending exceeds its income over a particular period of time. Like shares, gilts are bought and sold on the stock exchange and their price fluctuates according to the prevailing interest rate and their redemption date. When times are tough these discounts may widen, so the share price falls faster than the underlying assets. Bull An investor who expects share prices to rise or, more generally, has an optimistic outlook.
Liffe London International Financial Futures and Options Exchange, where futures and options are traded. Introduced in 1984 to fill the need for a constantly updated index, it is calculated once a minute during trading hours. Known in the US as leverage. The volatility adjustment reduces technical provisions by increasing the discount rate used to calculate the best estimate liability. Examples include environmentally friendly or "green" funds, and sectors such as hospitals and education.
Yield Rate of return on an investment in percentage terms, taking into account annual income and any change in capital value. It is calculated before interest charges and tax. See also European embedded value. Sometimes they are used as a means of protecting funds, such as an inheritance, until the beneficiary reaches a certain age. See also rights issue. The trustees are legally responsible for how the assets are managed. Typically there are two forms of mortgage: repayment (or capital and interest where the homeowner pays back both the loan and interest in stages; and interest only, where the homeowner pays just the interest until the end. One click transaction and conversion to EMI. The shares are compensation for the loss of membership.
Share price indices form the basis for many index-tracking funds. It provides an investment return normally by being bought at a discounted price. Index An index is the weighted value of uk forex awards vote a group of securities used to measure the ups and downs of a market, market sector or asset class, and to provide a performance benchmark against which other investments in that category can be measured. Represents about 70 of market turnover. Adjusted Solvency II present value of new business premiums (pvnbp). Insurance brokers arrange cover on behalf of their clients and represent the interests of the policyholder. Mid-price The midpoint between the buying price (also known as the bid price) and the selling price (also known as the offer price) of a unit or share. The price paid by Cardholders after the exchange offer has been availed. This Directive lays down rules concerning the following: (1) the taking-up and pursuit, within the Community, of the self- employed activities of direct insurance and reinsurance; (2) the supervision of insurance and reinsurance groups; (3) the reorganisation and winding-up of direct insurance undertakings. Credit squeeze A method used by governments to limit the amount of credit (or the amount of borrowing) in the economy, designed to reduce inflation by controlling growth in the money supply. Withholding tax Tax deducted from dividends paid in some countries to non-residents.
The name comes from 17th century flower auctions in the Netherlands. Easy re-payments from linked Savings/ Current Account. If you would like to change your preferences you may do so by following the instructions here. TSR includes movement in the share price and dividends paid and reinvested, expressed as a percentage of the initial value of the investment or share price at the beginning of the period. Bretton Woods An international conference held in New Hampshire, USA, in 1944 which resulted in the establishment of the International Monetary Fund and the World Bank. Underwriting profit The difference between insurance premiums earned and claims and expenses paid over a given period. Critical illness cover Pays out a lump sum if the insured person is diagnosed with a serious illness that is specified within the insurance policy. Top of page B balance of payments A country's net financial transactions with other countries showing the balance of imports versus lance sheetA statement showing the financial position of a business on a specific date by listing its assets. Crest Centralised settlement system for securities traded on the London Stock Exchange. Opposite of top down. Also known as losses incurred.
Assets under management (AUM) Assets under management represent all assets managed or administered by or on behalf of the Group, including those assets managed by third parties. For this reason, many countries require financial institutions to check the origins of large cash deposits. Rally A sharp rise in the value of a stock market or particular share. The opposite of "underweight". Return on equity The return on equity calculation is based on operating return after tax attributable to ordinary shareholders expressed as a percentage of weighted average ordinary shareholders equity. Solvency II Regulation The directly applicable EU Regulations adopted in accordance with the Solvency II Directive. Bundesbank The central bank of Germany, based in Frankfurt, and an integral part of the European system of central banks. One example is an increase in interest rates. Stock market See stock exchange. Lloyds of London The world's main market in marine, aviation and unique risks. Stocks are traded after hours on computer systems that match buyers and sellers to carry out the deals. The present value of future profits on a portfolio of long-term insurance and investment contracts, acquired either directly or through the purchase of, or investment in, a business.
The person taking out the insurance is called the insured. See also economic and monetary union. Avivas depositary bank is Citibank. Eurobond This is an international bond that is issued and traded outside the country of the bonds currency denomination. Solvency II These are insurance regulations designed to harmonise EU insurance regulation. Joint venture Partnership or co-operation on a business activity between two or more companies.Top of page K keyman insurance Also known as keyperson insurance. Financial authorities use these measures to set targets for monetary growth. Currency risk When funds are invested in uk forex awards vote overseas currencies or stock markets, the value of the investment can go up and down in line with movements in currency exchange rates. Unearned premiums Premiums received by an insurer relating to cover provided outside the current accounting period.
Compliance The requirement to operate in accordance with statutory or regulatory guidelines. Also, a house owners equity is the value of their home minus the unpaid mortgage so negative equity occurs if the house is worth less than the outstanding loan. It excludes economic variances, economic assumption changes and integration and restructuring costs. Utility A basic service supplied to the public, such as water, electricity, gas, and sometimes telecommunications or transport. A bear market is a period of falling share prices. US dividends are paid quarterly. Now replaced by the harmonised index of consumer prices, which is calculated differently, and tends to result in a lower figure. It is called hybrid because it combines the features of two or more financial instruments. Short Investors are short if they have sold shares they do not possess, in the hope of buying them later at a lower price to make a profit.
Ftse Small Cap Contains ftse All-Share companies that are too small to qualify for the ftse 350. The choices made reflect investment aims and attitude to risk. Long Investors are long if they have bought stocks or shares but have not yet arranged a compensating sale. Reversionary bonus See regular bonus. Firms may use their own internal model, the European Insurance and Occupational uk forex awards vote Pensions Authority (eiopa) prescribed standard formula or a partial internal model to determine SCR. Its role can include setting interest rates, note issue, supervision of commercial banks, management of exchange reserves and the national currency's value, as well as acting as the government banker. Can be calculated as gross national product minus income from abroad. Profit before tax All profits earned in a period, including investment gains. Unearned income Money not earned by working.
Group of Seven (G7) Seven leading industrialised countries - the US, Japan, Germany, France, UK, Italy and Canada - who meet to discuss major economic and political issues. Public company A company whose shares are available to members of the public. Interest-only mortgage Home loan where the borrower pays back only the interest until the end of the loan period, at which time the original sum borrowed also needs to be repaid. Actuary, someone who uses applied mathematics (in particular, probability) to provide solutions to insurance-related problems. Each stock listed on the London Stock Exchange must have at least two market-makers. Underwriting The process of selecting which risks an insurance company can cover, and deciding the premiums and terms of acceptance. Investment trust An investment fund set up as company"d on the stock exchange which buys shares in other companies. Ring fenced funds (RFF) RFF are arrangements where assets and liabilities are ring-fenced and form an identifiable unit in the same manner as though the RFF were a separate undertaking. The shareholder view excludes the contribution to Group SCR and Group own funds of fully ring fenced with-profits funds and staff pension schemes in surplus these exclusions have no impact on Solvency II surplus. . It comprises 12 Federal Reserve banks under the control of the Federal Reserve Board. Variable rate An interest rate that fluctuates or is periodically reset.
Alternative Investments Market (Aim launched by the London Stock Exchange in 1995 as a market for smaller, growing companies not big enough to enter the Stock Exchange Official List (the main market). Profit Excess of income over expenses for a particular period. Among the most important ftse indices are the ftse 100 and the ftse All-Share. See also bid price and offer price. Differs from the UK's former retail price index in the type of consumer spending included and how it is calculated, and consequently tends to give a lower inflation figure. See also embedded value. Symbol Unique abbreviations used to identify different companies traded on a stock exchange. A shareholders equity is the value of the shares they hold. They have no priority over debentures, loan stocks and company creditors. The mid-price is the middle point between the two and is often the price"d in newspapers. Holding capital in excess of the SCR demonstrates an insurer has adequate financial resources in place to meet all its liabilities as and when they fall due and that there is sufficient capital to absorb significant losses.
Top of page N Nafta North American Free Trade Agreement. Debenture A fixed interest security issued by a company or government agency, usually secured on its assets, with a long-term redemption (repayment) date between 10 and 40 years ahead. National Savings A UK government initiative to issue savings and investment products through the Post Office. Normally added to the interim dividend to produce the total dividend for the year. The cost of borrowing or lending money. RNS See regulatory news service. Solvency II became effective from Solvency II cover ratio (Regulatory view) Own funds divided by the Solvency Capital Requirement (SCR as calculated on a regulatory basis. PRA Rulebook The PRA Rulebook, Solvency II Firms, contains provisions made by the PRA applicable to Solvency II firms, including rules transposing the Solvency II Directive. quot;d If a company has a" (or is "quot;d its shares can be bought and sold on the stock exchange. Single-entry bookkeeping An accounting method by which transactions are recorded as either a credit or debit.
Introduced in 1987 but no longer sold. Once declared, the bonus is guaranteed as part of the payout on maturity. Protection An insurance contract that protects the policyholder or his/her dependants against financial loss on death or ill-health. Offer available on m and Flipkart app. The aim is to provide investors with the flexibility to choose the mix of shares uk forex awards vote that best suits their requirements. This Facility is extended by the Bank on the Platform to its select customers who hold a valid Debit Card issued by the Bank (Customer/ You/ Your and Card). Usually paid quarterly (in the US) or at the half-year (UK). Casualty insurance primarily covers losses arising from accidents that cause injury to other people or damage to the property of others. Often"d as an indicator of the relative strength of a currency or the attractiveness of the market in which it is used. Investment Buying and holding assets, such as shares, bonds, property and commodities, to earn income or to make capital gains. Basis risk The risk resulting from the situation in which the exposure covered by the risk-mitigation technique does not correspond to the risk exposure of the insurance or reinsurance undertaking. Most government stocks have a redemption date, and are known as dated gilts, but some have no redemption date and need never be repaid.
Top of page I income drawdown The policyholder can transfer money from any pension fund to an income drawdown plan from which they receive an income. IFAs are authorised by the FCA in the. Rate of return The change in value of an investment over a period of time, taking into account income from it and any change in its market value. Extraordinary item A non-recurring event that materially affects a companys finances in a reporting period. Top of page V value of new business (VNB) A measure of the value created by writing new business. Churning An illegal practice whereby a sales agent persuades a client to cash in an insurance policy uk forex awards vote after a short time and replace it with another, thereby earning commission on the new policy. Indicates how efficiently a company's management uses its assets to generate profits over a period of time. In a listed company the directors are elected by the shareholders. Also known as "annual" or "reversionary" bonus.
Market value adjustment A penalty that may be applied if a customer takes units out of a with-profit fund other than on a pre-agreed date, to take account of investment market conditions at the time. Most analysts specialise in a single industry or business sector. Offer Zone, icici Bank Debit Card EMI offer-zone-details, back To Offer, the Offer has Expired. By the end of October 1987, the London Stock Exchange had lost over 26 of its value, and Hong Kong was down. Transfer value The amount uk forex awards vote of money a person can move from one pension scheme to another. Also known as insider trading.