Calculated once a day. The disadvantage is that it increases the amount of stock and can therefore dilute earnings. Often known as a firm. Adopted as the main measure of domestic inflation in the UK in 2004, but known as the consumer prices index. The rate may vary from year to year. Lloyds of London The world's forex lot calculator indicator main market in marine, aviation and unique risks. Index An index is the weighted value of a group of securities used to measure the ups and downs of a market, market sector or asset class, and to provide a performance benchmark against which other investments in that category can be measured. However, it can refer specifically to fixed-interest investments, such as bonds and gilt-edged stocks, which represent a loan to the issuer, rather than shares, which signify part ownership of a company. An agreement reached in 1994 by the United States, Canada, and Mexico to phase out tariffs and encourage free trade between the three North American countries. Euro The European Union's single currency. Bottom up An investment strategy in which companies are considered on their own merit, without regard for industry trends or economic conditions. Analysis of the individual stock is the final step.
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Inheritance tax A tax paid on the value of assets (such as money and property) passed from one person to another as part of their estate after death or, in certain circumstances, as gifts during their lifetime. Assets under management include managed assets that are included within the Groups statement of financial position and those assets belonging to external clients outside the Aviva Group which are therefore not included in the Groups statement of financial position. American equivalent of a building society. The cost of borrowing or lending money. Ordinary share Where ownership of a company is divided into a number of equal parts or "shares ordinary shareholders are entitled to a distribution of the profits (known as dividends) and have the right to vote at company meetings. An accounting action sometimes used to reflect the effect of depreciation on the book value of an asset. Annual general meeting (AGM) A meeting of shareholders that must be held once a year to approve the report and accounts and the final dividend per share, and to vote on any motions (such as the re-election of directors). Partnership A business association formed by two or more people. It comprises 12 Federal Reserve banks under the control of the Federal Reserve Board. Set up in 1971 as an information service, now regarded as a major stock exchange in its own right. See also private investor. The name comes from 17th century flower auctions in the Netherlands. Lump sum benefit A benefit arising in the form of a single, once-and-for-all payment rather than a series of payments.
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This is one of a number of gold coins that can be bought by individual investors and traded on the London bullion market. Acquisition expenses, acquisition expenses include the initial expenses and commission incurred in writing new business less deferred costs. The instrument could be an asset such as equity or commodity prices, could be a financial variable such as interest rates or a non-financial variable such as temperature or the price of orange juice. Sometimes known as the cost of living index. Mutual A business organisation, such as an insurance company or building society, owned by its members or policyholders. Bottom-up investors believe that some companies will outperform their peer group regardless of industry and economic circumstances. Not all premiums written will necessarily be treated as income in the current financial year, because some of them could relate to insurance cover for a subsequent period. In a listed company the directors are elected by the shareholders. Convertible stock A security paying a fixed rate of interest issued by a company, and convertible at certain times and under certain conditions into shares in that company.
Actuary, someone who uses applied mathematics (in particular, probability) to provide solutions to insurance-related problems. Seaq was introduced as part of "Big Bang" in 1986. Other types, such as sole ownerships or limited partnerships, do not. Also known as stock split, capitalisation issue or bonus issue. You can choose to hold your money in notes and coins or as an electronic record in a bank account.
Some institutional shareholders use their investment muscle to influence companies in which they invest to promote improved standards of business conduct. Management buy-out (MBO) The purchase of a company by some or all of its managers, usually with financial backing from outside. Also known as a raider. Return on equity The return on equity calculation is based on operating return after tax attributable to ordinary shareholders expressed as a percentage of weighted average ordinary shareholders equity. Capital gain The profit made on the sale of investments, such as shares or property. Someone who practises arbitrage is an arbitrageur. Some companies that are related to Orchid Island Capital include. Expensing stock options Showing or accounting for the value of share options, distributed as incentives to employees, within the profit and loss account of a business. Adjusted Solvency II VNB is the increase in Solvency II Own Funds resulting from business written in the period, adjusted to remove the impact of contract boundaries, to include look through profits in service companies (where not included. Spot trading The trading of commodities at the "spot" or current cash price. National Savings A UK government initiative to issue savings and investment products through the Post Office. Investment return Investment return is the expected income on existing business (other than the underwriting margin).
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Unclaimed assets A term for funds held usually by financial institutions that have been left untouched by their owners for a considerable period of time. Capitalisation issue See scrip issue. Central banking system of the United States. Credit spread The difference in the yield between two bonds of similar maturity but different credit quality. A liquid asset is one easily convertible into cash. Usually means the period starting 1 January is forex trading taxable in south africa of the current year and ending today.
It must be explained in the quarterly or annual report. Once you are logged into your account, go to My Tax Online and select Make Payment. In the USA, treasury bills (also is forex trading taxable in south africa known as T-bills) are short-term securities issued for up to one year. Global funds provide opportunities for spreading investments into different markets and sectors, but can carry additional risks, such as currency fluctuations and political and economic instability. Protection An insurance contract that protects the policyholder or his/her dependants against financial loss on death or ill-health. Black Tuesday On Tuesday 29 October, 1929, a record.4 million shares were traded on the New York Stock Exchange and the market suffered a loss of about. See also rate of return. Growth funds can be more volatile than other types, rising more in bull markets and falling further in bear markets.Top of page H harmonised index of consumer prices (hicp) Internationally recognised measure of inflation used by the European Central Bank to compare price movements across the eurozone. Return on capital employed (roce) Usually calculated as pre-tax profit divided by capital employed (total assets minus current liabilities expressed as a percentage. In the US, the Big Four banks are Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, but the name is more usually used to describe the four largest public accounting firms: PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst Young and kpmg. This "strain" arises because, in addition to meeting costs associated with the sale of contracts, insurance companies must make actuarial provisions at the outset of a contract that are often significantly higher than the premiums received. It is calculated by taking net profits and dividing them by the total number of shares in issue.
When times are tough these discounts may widen, so the share price falls faster than the underlying assets. Also known as business process outsourcing (BPO where a company in one country provides services for a company in another part of the world. Payments for the policy are called premiums. This glossary is intended to help you understand some of the terms used in the insurance, investment and financial services business. This is equivalent to the companys equity, which is the amount contributed by the companys owners plus retained earnings. The CFO is responsible for a company's accounting and financial activities, and usually reports to the chief executive officer. Achieved profit is made up of operating profit plus investment variances, changes in economic assumptions and any exceptional items. When buying, you generally pay a bit more than the mid-price; when selling, you usually receive a bit less. An open-ended fund will sell as many shares as investors want (the equivalent of a unit trust whereas for closed-end funds there is only a limited number of shares (equivalent to an investment trust). Began in the mid-1970s.
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Debenture A fixed interest security issued by a company or government agency, usually secured on its assets, with a long-term redemption (repayment) date between 10 and 40 years ahead. Standard of living Financial well-being, often measured by gross national income per capita (the average earnings for each person in the country). Industrial Logistics Properties Trust (ilpt), Summit Hotel Properties (INN), Easterly Government Properties (DEA), Saul Centers is forex trading taxable in south africa (BFS), KKR Real Estate Finance Trust (kref), Universal Health Realty Income Trust (UHT), NY MTG TR INC/SH (nymt), arbor rlty TR I/SH (ABR), armour Residential. Most hedge funds set high minimum investment amounts, so tend to be used by wealthy individuals and institutions. Can trace its origins to Edward Lloyd's Coffee House in late-17th century London, where the owner attracted merchants and ship-owners by posting the latest shipping information. The profit or loss is "realised" when the investor sells the security or asset in question. Organisation for Economic Co-operation and Development (oecd) The oecd provides a forum in which governments can work together to share experiences and seek solutions to common problems. Nationalised in 1946, gained operational independence in 1997. Economic capital The assets that a company needs to ensure that its realistic balance sheet stays solvent, over a certain period of time. Loss leader A product or service sold at a lower price than usual in order to generate additional sales. Total shareholder return A measure of company performance based on the overall value to shareholders of their investment in a stock over a given period of time. Excludes non-operational items, such as one-off gains or losses from the sale of assets or acquisition costs. Net profit The amount left over after deducting tax, interest, depreciation, fees, minority interests and extraordinary charges from sales revenue.
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The shares are compensation for the loss of membership. By contrast, unlimited liability allows creditors to have a claim on other assets belonging to the owners in the event of a deficit. By the end of November, investors had lost an estimated 100 billion in what was later called the Great Crash. Excludes wages, salaries, bonuses, tips and other employee remuneration. The amount of pension will be a proportion of the member's final salary, depending on their length of service.
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Financial authorities use these measures to is forex trading taxable in south africa set targets for monetary growth. How can I contact Orchid Island Capital? Broker An individual or firm that acts as an intermediary between a buyer and seller, usually charging commission or a fee. Also known as the Big Board. National debt The central government debt. The cash remittances from business units eliminate on consolidation and hence the excess centre cash flow is not directly reconcilable to the Groups ifrs consolidated statement of cash flows. Similar to the UK merchant bank. Ftse All-Share index The most comprehensive of all the UK stock market indices. Deferred acquisition costs (DAC) These costs are directly attributable to the acquisition of new business for insurance and investment contracts may be deferred to the extent that they are expected to be recoverable out of future margins in revenue on these contracts. The mission of the oecd is to promote policies that will improve the economic and social well-being of people around the world. Warrant A tradable security that gives the holder the right to buy a share or bond at a fixed price on a future date.
See also buy-side analyst and sell-side analyst. Underwriting profit excludes investment income, so is a commonly used method of evaluating the performance of a general insurance company. Crest Centralised settlement system for securities traded on the London Stock Exchange. Depositary bank A bank that holds American depositary shares and sells them to US investors. Examples include the Bank of England, the Deutsche Bundesbank, the European Central Bank, and the Federal Reserve in the. Usually brand names and logos are registered (trademarked) with a regulatory authority. The assets in the fund can be a mix of stocks, shares, bonds, property or other securities. Operating expense ratio The Group operating expense ratio expresses operating expenses as a percentage of operating income. There are several ways this can be measured (such as M0, M1, M3 and the definitions for these figures vary slightly from country to country.
Tax avoidance Legal arrangements made by an organisation or individual to reduce the amount of tax they pay. Total return Total return is the change in value of an investment over a given period, including income from dividends and interest, as well as any capital gains or losses, expressed as a percentage of the initial investment. Investment Buying and holding assets, such as shares, bonds, property and commodities, to earn income or to make capital gains. Annuity A type of policy that pays out regular amounts, for an agreed period of time or until death, in return for a cash lump sum. Winding up See liquidation. A promissory note is an unconditional undertaking made by the borrower to pay a certain sum on demand or at a fixed date in the future. Ftse Small Cap Contains ftse All-Share companies that are too small to qualify for the ftse 350.
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The Fed is involved in setting monetary policy (including interest rates maintains reserves, issues bank notes, lends money to member banks, and monitors the economic health of the country. A COR below 100 indicates profitable underwriting. Measures performance in the core businesses. Ordinary shares (or common stock) provide voting rights at company meetings and entitle the holder to a proportional share of the profits. Final dividend The dividend paid by a company to shareholders at the end of the financial year. Most major financial centres - examples include London, New York, Paris, Hong Kong and Tokyo - have their own stock exchange with a centralised dealing system and strict operating rules and regulations. Money purchase scheme See defined contribution scheme. It is calculated as the sum of new regular premiums plus 10 of new single premiums written in the period. The buyer of a credit default swap pays a premium for effectively insuring against a debt payment default. Bonds/savings These are accumulation products with single or regular premiums and unit-linked or guaranteed investment returns. Endowment assurance A policy combining life assurance and investment under which the sum assured is paid at a pre-agreed date, or on the death of the policyholder if earlier. The PRAs is forex trading taxable in south africa objectives are: to promote the safety and soundness of the firms it regulates; specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders; and a secondary objective to facilitate effective competition.
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Expense ratio Expenses associated with running an insurance business, such as commission, professional fees and other administrative is forex trading taxable in south africa costs, expressed as a percentage of premiums. Buy-to-let The purchase of a residential property to rent out for investment purposes. It can include earnings from banking, insurance, investment, shipping and tourism. In 1771 a group of Lloyd's customers agreed to form their own association and in 1774 moved into rooms at the Royal Exchange. Globally systemic important banks (G-SIBs) A list of banks deemed systemically important to the global financial system by the FSB as part of an international initiative set by the G20. Premium The monetary amount paid for an insurance policy. Available for sale Securities that have been acquired neither for short-term sale nor to be held to maturity and are not classified as other than trading. Dutch auction A type of auction where the asking price of an item is gradually lowered until the first bid is made. Public utility See utility.
No interest is forex trading taxable in south africa is payable on the loan; instead, interest is rolled-up on the loan and the loan and accrued interest are repayable at redemption (upon death or moving into long-term care). White knight A company or individual who rescues another company in financial difficulties, or saves a takeover target from an unwanted bidder by making a counter-bid. European embedded value (EEV) Embedded value is a way of measuring the current value to shareholders of the future profits from a life and pensions business. Ethical investments Funds that invest in companies that are environmentally friendly or are not connected with the tobacco, alcohol or arms industries. Stakeholder Any individual or organisation with an interest in a company. For policies in which such a point does not exist, the contract boundary is the same as the full term of the contract. Employees contribute through National Insurance payments, and the amount of benefit depends on earnings and the amount of National Insurance contributions paid. quot;d If a company has a" (or is "quot;d its shares can be bought and sold on the stock exchange. Market price The price at which a stock, bond or commodity was most recently bought or sold.
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Sicav Abbreviation for Société d'investissement à capital variable (variable capital investment company). Merchant bank Specialised UK bank offering investment services, corporate advice, trade and project finance, exchange rate dealing, etc, to clients worldwide. Pension A regular sum of is forex trading taxable in south africa money paid to a person when they retire. Economic and monetary union (EMU) Alignment of economic and monetary systems among European Union member countries to enable the introduction of a single currency, the euro. Alternative Investments Market (Aim launched by the London Stock Exchange in 1995 as a market for smaller, growing companies not big enough to enter the Stock Exchange Official List (the main market). It is responsible for the conduct business regulation of financial services firms (including those firms subject to prudential regulation by the PRA) and the prudential regulation of firms not regulated by the PRA. It is even easier to make payments as long as you have already signed up for the service. Regular or "reversionary" bonuses may be added, usually each year, and once declared are guaranteed. Standards may be set by statutory bodies, self-regulation and codes of best practice. Open-Ended Investment Company (oeic) A collective investment fund structured as a limited company in which investors can buy and sell shares. The opposite of amortisation. Privatisation Conversion of a state-run company one in private ownership, often as a public limited company with shares offered for sale to the public.