AIC - Guide to investment companies - Glossary

Glossary




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UK Listing Authority (UKLA)

The FSA, acting as the competent authority for listing, is referred to as the UK Listing Authority (UKLA), and maintains the Official List, see listing rules for more information.

Unit trust

An open-ended fund in the form of a legal trust, which issue units rather than shares.

Unlisted investments

Investments in companies, which have no stock market listing.

Unsecured loan stock (ULS)

A loan stock in which no specific assets have been set aside as a fund out of which the holders could be paid in priority to other creditors in the event of non-payment; may also be a Convertible (CULS).

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