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

An index or other measure against which the performance of an investment company is compared or its objectives are set.

For example, a UK-invested investment company might have the FTSE All-Share Index as a benchmark and an objective to outperform this. The annual report and accounts will normally include an explanation of how the company has performed against its benchmark over the year and the reasons for any under or over performance.

See index

The price at which you sell your shares when two prices are quoted. This is sometimes shown as the ‘sell’ price and will be the lower of the two prices shown.

Also see share price