Transcription of INVESTMENT DICTIONARY - Mercer
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INVESTMENT DICTIONARYII1As is the case in many industries, the ever complex world of INVESTMENT is full of jargon. Although it is the role of specialists to use clear language rather than technical terms, sometimes these are just unavoidable. To help trustees in their understanding and interpretation of the INVESTMENT terms that they may encounter in their day-to-day fiduciary responsibilities, Mercer has compiled this INVESTMENT DICTIONARY . A number of the terms have other non- INVESTMENT related meanings, which we have not captured. The DICTIONARY is intended to supplement rather than replace expert INVESTMENT have expanded this year s edition of the INVESTMENT DICTIONARY by introducing several terms since our last update in 2012 that cover industry updates, as well as other terms not covered previously. The additions reflect the ever-changing face of INVESTMENT markets, with the associated phraseology that this introduces.
adjustable-rate mortgage (ARM) Mortgage loan whose interest rate is raised or lowered periodically in accordance with a stated reference interest rate. ARM refers both to the original homeowner loan and to a securitised pool of such loans. ADR See American Depository Receipt. Advance Corporation Tax (ACT) Tax formerly paid by companies on
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