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Capital shares

A type of share issued by a split capital investment company which can deliver high capital growth, but at a very high risk.  Capital shares don’t pay any income.

Capital return performance

A measure of performance which looks only at the increase and decrease in the value of the investment over time. It doesn’t take into account any income dividends you may have received, however it does include capital dividends within the calculation.

C shares

C (‘Conversion’) shares help an investment company grow in a way that protects the interests of existing ordinary shareholders.

Bid price

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.


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


Anything owned or controlled that has value. For investment companies, this might include shares and securities, property, cash etc.

Annual General Meeting (AGM)

A meeting held once a year where shareholders can find out how their company is doing, ask questions of the directors and vote on key issues.

Annual report and accounts

A report prepared by a company each year after its year end. It sets out what the company does, how it has performed over the year and its financial position.