Here you’ll find definitions of terms used on the AIC site. Enter the term you want to search for in the box, or click on the letter it begins with.

5 A B C D E F G H I J L M N O P R S T U V W Y Z

Illiquid investments are those that can’t be sold at short notice. This includes property, private equity and venture capital.

A type of share issued by a split capital investment company which:

  • has a limited life.
  • aims to pay a high level of income during its life and a fixed capital sum on wind-up. Neither of these sums is guaranteed.

Learn more about split capital investment companies

A statistical measure of the changes in value of a portfolio of assets representing a portion of the overall market (e.g. the FTSE All-Share). It provides a snapshot of how that part of the market is performing.

A type of wrapper scheme which helps you invest in investment company shares without paying income or capital gains tax.

Learn more about ISAs and Junior ISAs

A report prepared by a company during its financial year, setting out the same type of information as its annual report and accounts, but with less detail.

Interim accounts are often the same as the half yearly report, but are sometimes issued at other times.

See annual report and accounts.

A closed-ended fund which invests in a diversified portfolio of assets. Investors buy and sell their shares in the investment company on a stock exchange.

These wrapper schemes help you buy shares in investment companies easily and flexibly by investing a small lump sum or making regular investments.

Learn more about wrapper schemes

See wrapper scheme.

An investment company which is based in the UK and which meets certain tax conditions so that it doesn’t pay tax on gains made within the portfolio.

Wrapper schemes are not investments in their own right, but simply different ways of holding investments. Some wrappers, such as ISAs, have tax advantages.

Learn more about wrapper schemes

When you use a stock broker to buy shares, you can often find the share you want by its name.  However, some companies have similar sounding names, and some companies issue more than one share.  You can use the ISIN code to make sure you’ve got the right share.

See also TIDM