Coupon

Also called a dividend, this is the fixed annual interest paid to gilt holders. It’s usually paid in two equal, semi-annual instalments and expressed as a percentage of the nominal value of the gilt.

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Investment Return

The amount of money made or lost from an investment. Usually expressed as a percentage.
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Net Asset Value (NAV)

The value of a company's assets relative to the number of shares it has.
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Net asset value

Mutual funds and investment trusts are priced on their net asset value (NAV).
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Oligopoly

A situation in which a market or industry is controlled by a small group of companies.
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Stock Market

A place where shares of publicly listed companies are traded.
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Base rate

What's the base rate?
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Clean price

The quoted price of a gilt, which excludes accrued interest
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Xetra

A trading venue operated by the Frankfurt Stock Exchange.
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Dirty price

The total price payable on the purchase of a gilt. It’s calculated as the clean price plus accrued interest.
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