Income shares
Income shares are a class of shares in a split capital investment company. There are several types of income shares, which vary in their entitlements to income and offer various capital entitlements on wind-up.
Index
A statistical measure of the changes in a portfolio of stocks representing a portion of the overall market. For instance, the FTSE 100 and the S&P500 are examples of indices.
Index number
An index number is a statistic indicating the relative change occurring in the price or value of a commodity, share price or in a general economic variable e.g. retail price increases, with reference to a previous base period conventionally given the number 100.
International Bulletin Board
The London Stock Exchange order driven trading service for international equity market securities. International equity market security is usually a security of a company which is incorporated in or has its principle office in a country outside the UK, the Isle of Man and the Channel Islands and which is listed under the rules of a registered organisation, other than a domestic market security or one admitted to trading on AIM.
Investment company
A closed-ended fund which invests primarily in a diversified portfolio of the shares and securities of other companies. See Investment trust
Investment schemes
A facility to enable purchases of investment company shares to be made easily and cheaply by the investment of regular (usually monthly) sums of money or by occasional lump sum contributions. See wrapper products and pound-cost averaging.
Investment trust
An investment company which satisfies the requirements of Section 842 of the Income and Corporation Taxes Act 1988.
Companies which meet these criteria are exempt from having to pay tax on the capital gains they realise from sales of the investments within their own portfolios. See Investment Company.
ISA
ISA stands for Individual Savings Account.
ISAs are savings accounts free of personal taxes which can be used to hold many types of savings and investment products. For more information see ISA in the Guide to investment companies.
ISIN
International Securities Identification Number (ISIN). International code for a listed security.
Issued capital
Issued share capital is the total number of shares subscribed to by the shareholders.
