Withholding Tax

A tax deduction made at the source of the payment.

A tax deduction made at the source of the payment.

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Annualised Rate of Return

The average annual return an investor sees over a set period of time.
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Alpha

The percentage by which an investor outperforms a relevant benchmark.
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Professional Client

An investor that is able to meet several regulatory criteria.
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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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Zero-Sum Game

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

An investment that provides a fixed rate of return, often over a specific set of time.
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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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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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