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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Geometric Mean Return

A way of calculating compound returns on an investment or savings over a set period of time.
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Hypothesis Testing

A mathematical test used to determine whether a claim is true or false.
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Internal Rate of Return (IRR)

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

A trading venue operated by the Frankfurt Stock Exchange.
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Free Trade

The other free trade. International trade in which countries allow goods to flow across their borders without imposing import or export taxes.
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Arithmetic Mean

The sum of a set of numbers added together and then divided by the total amount of numbers in that set.
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Conventional gilts

Gilts where the dividends and principal repayments are fixed in nominal terms. This is as opposed to an index-linked gilt where the dividends and principal repayments are related to movements in the Retail Prices Index (RPI).
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Zero coupon bonds

What is a zero coupon bond?
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Net asset value

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