Glossary

AIC investment company sectors (and codes)

Global Growth (GG)
Companies whose objective is to produce a total return to shareholders from capital growth and some dividend income. They will have less than 80% of their assets in any one geographical area.

Global Growth & Income (GGI)
Companies whose objective is to produce a total return to shareholders from capital and dividend growth and which typically have a yield on the underlying portfolio ranging between a 100% and a 175% of that of the FTSE All-World Index. They will have less than 80% of their assets in any one geographical area.

Global High Income (GHI)
Companies which invest in equities and fixed interest securities, whose objective is to provide dividend growth to shareholders. They will typically have a yield on the underlying portfolio above 150% of that of the FTSE All-World Index. They will have less than 80% of their assets in any one geographical area.

Global Smaller Companies (GSC)
Companies which invest at least 80% of their assets in smaller company securities. They will have less than 80% of their assets in any one geographical area.

UK Growth (UGR)
Companies which invest in UK securities and aim produce a total return to shareholders from capital growth and some dividend income. They will have at least 80% of their assets in UK securities.

UK Growth & Income (UGI)
Companies which invest in UK securities and aim to produce a total return to shareholders from capital and dividend growth and which typically have a yield on the underlying portfolio between 100% and 175% of that of the FTSE All-Share Index.  They will have at least 80% of their assets in UK securities.

UK Smaller Companies (USC)
Companies which invest at least 80% of their assets in UK smaller company securities.

UK High Income (UKH)
Companies which invest at least 80% of their assets in UK equities and fixed interest securities in the UK, whose objective is to produce dividend growth to shareholders. They will typically have a yield on the underlying portfolio above 150% of that of the FTSE All-Share Index.

North America (NA)
Companies which have at least 80% of their assets in North American securities.

North American Smaller Companies (NAS)
Companies which have at least 80% of their assets invested in North American smaller company securities.

Asia Pacific - Including Japan (AIJ)
Companies which have at least 80% of their assets in Asia Pacific securities, which includes a Japanese content of over 20%.

Asia Pacific - Excluding Japan (AXJ)
Companies which have at least 80% of their assets in Asia Pacific securities, which includes a Japanese content of less than 20%.

Japan (JPN)
Companies which have at least 80% of their assets in Japanese securities.

Japanese Smaller Companies (JSC)
Companies which have at least 80% of their assets invested in Japanese smaller company securities.

Europe (EUR)
Companies which have at least 80% of their assets in European securities.

European Smaller Companies (ESC)
Companies which have at least 80% of their assets invested in European smaller company securities.

European Emerging Markets (EEM)
Companies which have at least 80% of their assets in European emerging market securities.

Global Emerging Markets (GEM)
Companies which have at least 80% of their assets in global emerging market securities.

Latin America (LA)
Companies which have least 80% of their assets in Latin American securities.

Hedge Funds (HDG)
Companies whose policy is to invest in a portfolio of Hedge Funds and/or employ a range of direct hedging investment strategies. 

Private Equity (PE)
Companies which have a significant portion of the company’s portfolio invested in the securities of unquoted companies.

Country Specialists    
Companies whose policy is to invest in one or two countries. Companies are classified into Europe (CSE),  Asia Pacific (CSA), Latin America (CSL) and Other (CSO) sectors.

Property sectors

Property Securities (PPS)
Companies whose policy is to principally invest in property securities.

Property Direct - UK (PU)
Companies whose policy is to invest in property in the UK

Property Direct - Europe (PRE)
Companies whose policy is to invest in property in Europe.

Property Direct - Asia Pacific  (PRA)
Companies whose policy is to invest in property in Asia Pacific.

Property Specialist (PSP)
Companies whose policy is to invest in a specialist sector of the property market.

Sector Specialist sectors

Biotechnology & Healthcare (SSB)
Companies whose policy is to invest in biotechnology and/or healthcare securities.

Commodities & Natural Resources (SCN)
Companies whose policy is to invest in a commodities and natural resource securities.

Debt (SSD)
Companies whose policy is to invest in debt instruments.

Environmental (ENV)
Companies whose policy is to invest in environmental and alternative energy securities.

Financials (SSF)
Companies whose policy is to invest in the financial services securities.

Forestry & Timber (TRE)
Companies whose policy is to invest in forestry and timber related investments and securities.  

Infrastructure (SSI)
Companies whose policy is to invest in infrastructure investments.

Liquidity Funds (SSW)
Companies whose policy is to invest in funds.

Litigation (SSL)
Companies whose policy is to invest in litigation and arbitration cases, claims and disputes.

Reinsurance (SRI)
Companies whose policy is to invest in reinsurance based instruments.

Small Media, Communication & IT Companies (SCT)
Companies whose policy is to invest in small media, communication & IT company securities.

Technology, Media, Telecommunications (SSM)
Companies whose policy is to invest in technology, media, telecommunication securities.

Utilities (SSU)
Companies whose policy is to invest in utility and utility related securities.

VCT sectors             

Venture Capital Trusts (VCT) VCTs are a form of closed-ended fund that were introduced by the 1995 Finance Act to help provide finance for small UK businesses to develop. By adhering to the VCTs rules of investing in unquoted and AIM/OFEX listed companies VCTs are able to offer tax benefits to investors. Pre-qualifying VCTs are those that are not required to hold 70% in qualifying investments. A VCT must hold at least 70% by value of its investments in qualifying holdings by the end of the company’s accounting period beginning no more than 3 years after launch.

VCT Generalist (VCG)
Companies whose policy is to invest in a range of qualifying investments in different sectors. (Pre Qualifying code: VGP)

VCT AIM Quoted (VCA)
Companies whose policy is to invest in a range of qualifying companies listed, or about to be listed, on AIM or on any other exchange where the securities are treated as unquoted. (Pre Qualifying code: VAP)

VCT Specialists sectors

Environmental (VCE)
Companies whose policy is to invest in environmental and alternative energy companies. (Pre Qualifying code: VEP)

Infrastructure (VCI)
Companies whose policy is to invest in infrastructure companies. (Pre Qualifying code: VIP)

Healthcare & Biotechnology (VCH)
Companies whose policy is to invest in healthcare and biotechnology companies. (Pre Qualifying code: VHP)

Media, Leisure & Events (VCM)
Companies whose policy is to invest in media, leisure and events companies. (Pre Qualifying code: VMP)

Technology (VPT)
Companies whose policy is to invest in technology companies. (Pre Qualifying code: VTP)