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.

More terms

Venture Capital Trust (VCT)

A listed company run by a fund manager, investing mainly in private companies.e.

Volatility

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

Geometric Mean Return

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

Securities

Bonds and stocks.

Zero-Sum Game

A situation in which one person's gain is another's loss.

Bond

Learn what a bond is

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).

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.

Total Return

This is the measurement of a fund’s performance in a specific period.

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