DMO

The United Kingdom Debt Management Office. It’s an executive agency responsible for managing the government’s debt and cash needs, primarily through issuing gilts and Treasury bills.

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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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Internal Rate of Return (IRR)

A means of calculating the potential future return on an investment.
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Running yield

The annual interest payment (dividend) divided by the current market price of a bond.
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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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Collective investment scheme

Learn what's a collective investment scheme
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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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Packaged Retail and Insurance-based Investment Product (PRIIP)

An investment where, regardless of its legal form, the amount repayable to the retail investor is subject to fluctuations.
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Equity ETF

An exchange-traded fund that is comprised of a set of stocks.
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Unit Trusts

A collective investment scheme the investors pay money into in exchange for units. The money is invested in a diversified portfolio of assets.
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