Ponzi Scheme

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.

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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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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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Retail Prices Index (RPI)

An index published each month by the Office for National Statistics, which measures the level of retail prices in the UK. Cash flows on all index-linked gilts are linked to the RPI.
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Investment Trust

A company that pools money together from multiple investors and then invests it.
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Real Estate Investment Trust (REIT)

An investment trust specialised in investing in commercial property such as parking garages or GP offices.
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W-8BEN Form

Non-US individuals and businesses may have to file this form for the Internal Revenue Service (IRS), the US tax authority.
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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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Volatility

A measure of how much the prices of an asset or index vary over time.
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Growth stocks

These are stocks in companies that are considered to be “growing”. These companies may be delivering new products and services, or entering new markets.
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