Market operated by the London Stock Exchange for smaller companies. The requirements and costs of listing are less onerous than on the main stock exchange.

Investment strategy combining active management in one asset class (the alpha) with strategic exposure to a different underlying asset class.

Incremental return added by an investment manager through active management.

Association for Investment Management and Research

Undertaken on behalf of the client on a best endeavours (and best execution) basis. The client bears the risk (profit or loss) of price movements between giving and completing the order.

Broker/dealer who acts as agent between market makers and investors.

Tax formerly paid by companies on dividends distributed to shareholders

=> 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.

Contributions over and above a member’s contractual contributions to a pension plan, enabling him or her to accrue additional benefits.

Professional who advises on financial issues relating to risks, probabilities and mortality, most frequently in relation to the financing of pension plans and insurance companies.