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Investment Trust
An investment trust is a form of investment fund found mostly in the United Kingdom and Japan. Investment trusts are constituted as Public limited company, public limited companies and are therefore closed ended since the fund managers cannot redeem or create shares. The first investment trust was the Foreign & Colonial Investment Trust, started in 1868 "to give the investor of moderate means the same advantages as the large capitalists in diminishing the risk by spreading the investment over a number of stocks". In many respects, the investment trust was the progenitor of the investment company in the U.S. The name is somewhat misleading, given that (according to law) an investment "trust" is not in fact a "English trust law, trust" in the legal sense at all, but a separate legal person or a UK company law, company. This matters for the fiduciary duties owed by the board of directors and the equitable ownership of the fund's assets. In the United Kingdom, the term "investment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Fund
An investment fund is a way of investment, investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to: * hire professional investment managers, who may offer better returns and more adequate risk management; * benefit from economies of scale, i.e., lower transaction costs; * increase the asset diversification (finance), diversification to reduce some unsystematic risk. It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. The regulatory term is undertaking for collective investment in transferable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Conduct Authority
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers, and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms. Like its predecessor the FSA, the FCA is structured as a company limited by guarantee.Goldsworth, J., ''Lexicon of Trust & Foundation Practice'' ( Wendens Ambo: Mulberry House Press, 2016)p. 140 The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the Unite ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income And Corporation Taxes Act 1988
The Income and Corporation Taxes Act 1988, also known as ICTA, was the foremost United Kingdom Act of Parliament concerned with taxation until the Income Tax Act 2007 and the Corporation Tax Act 2010. ICTA was enacted in order to consolidate a number of earlier legislative provisions covering taxation. Originally, ICTA primarily covered income tax (paid principally by individuals) and corporation tax (paid principally by companies). It is the longest Act of Parliament to have ever been written. Overview Section 660A In its United Kingdom Tax Bulletin 64 (April 2003), the Inland Revenue (now HM Revenue and Customs) announced new guidance on the "settlements legislation". This is a body of law which seeks to prevent someone (known as the "settlor") from avoiding tax by reclassifying income as belonging to someone else (known as the beneficiary). The income is then taxed at the beneficiary's lower rate although the settlor continues to benefit from it. The legislation targets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Revenue & Customs
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC, and formerly Her Majesty's Revenue and Customs) is a Departments of the United Kingdom Government, department of the UK government responsible for the tax collection, collection of Taxation in the United Kingdom, taxes, the payment of some forms of Welfare state in the United Kingdom, state support, the administration of other regulatory Regime#Politics, regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the Tudor Crown (heraldry), Tudor Crown enclosed within a circle. Departmental responsibilities The department is responsible for the administration and collection of direct taxes including Income Tax, United Kingdom corporation tax, Corporation Tax, Capital Gains Tax (CGT) and Inheritance Tax (IHT), indirect taxes includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, airports, public transit systems, tunnels, water supply, sewers, electrical grids, and telecommunications (including Internet connectivity and broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to mitigate and adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and green infrastructure. Acknowledging this importance, the international co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the companies. In casual usage "private equity" can refer to these investment firms rather than the companies in which they invest. Private-equity capital (economics), capital is invested into a target company either by an investment management company (private equity firm), a venture capital fund, or an angel investor; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Private equity can provide working capital to finance a target company's expansion, including the development of new products and services, operational restructuring, management changes, and shifts in ownership and control. As a financial product, a private-equity fund is private capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British House Of Commons
The House of Commons is the lower house of the Parliament of the United Kingdom. Like the upper house, the House of Lords, it meets in the Palace of Westminster in London, England. The House of Commons is an elected body consisting of 650 members known as members of Parliament (MPs), who are elected to represent constituencies by the first-past-the-post system and hold their seats until Parliament is dissolved. The House of Commons of England began to evolve in the 13th and 14th centuries. In 1707 it became the House of Commons of Great Britain after the political union with Scotland, and from 1801 it also became the House of Commons for Ireland after the political union of Great Britain and Ireland. In 1922, the body became the House of Commons of the United Kingdom of Great Britain and Northern Ireland after the independence of the Irish Free State. Under the Parliament Acts 1911 and 1949, the Lords' power to reject legislation was reduced to a delaying power. The gove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Wiley & Sons
John Wiley & Sons, Inc., commonly known as Wiley (), is an American Multinational corporation, multinational Publishing, publishing company that focuses on academic publishing and instructional materials. The company was founded in 1807 and produces books, Academic journal, journals, and encyclopedias, in print and electronically, as well as online products and services, training materials, and educational materials for undergraduate, graduate, and continuing education students. History The company was established in 1807 when Charles Wiley opened a print shop in Manhattan. The company was the publisher of 19th century American literary figures like James Fenimore Cooper, Washington Irving, Herman Melville, and Edgar Allan Poe, as well as of legal, religious, and other non-fiction titles. The firm took its current name in 1865. Wiley later shifted its focus to scientific, Technology, technical, and engineering subject areas, abandoning its literary interests. Wiley's son Joh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leverage (finance)
In finance, leverage, also known as gearing, is any technique involving borrowing funds to buy an investment. Financial leverage is named after a lever in physics, which amplifies a small input force into a greater output force. Financial leverage uses borrowed money to augment the available capital, thus increasing the funds available for (perhaps risky) investment. If successful this may generate large amounts of profit. However, if unsuccessful, there is a risk of not being able to pay back the borrowed money. Normally, a lender will set a limit on how much risk it is prepared to take, and will set a limit on how much leverage it will permit. It would often require the acquired asset to be provided as collateral security for the loan. Leverage can arise in a number of situations. Securities like options and futures are effectively leveraged bets between parties where the principal is implicitly borrowed and lent at interest rates of very short treasury bills.Mock, E. J., R. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Undertakings For Collective Investment In Transferable Securities Directive 2009
The Undertakings for Collective Investment in Transferable Securities Directive (Directive 2009/65/EC, "UCITS") is a directive of the European Union (EU) that allows collective investment schemes to operate freely throughout the EU on the basis of a single authorisation from one member state. EU member states are entitled to have additional regulatory requirements for the benefit of investors. Evolution The objective of Directive 85/611/EEC, adopted in 1985, was to allow for open-ended funds investing in transferable securities to be subject to the same regulation in every member state. It was hoped that once such legislative uniformity was established throughout Europe, funds authorised in one member state could be sold to the public in each member state without further authorisation, thereby furthering the EU's goal of a single market for financial services in Europe. The reality differed somewhat from the expectation due primarily to individual marketing rules in each member ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Asset Value
Net asset value (NAV) is the value of an entity's assets minus the value of its Liability (financial accounting), liabilities, often in relation to open-end fund, open-end, mutual fund, mutual funds, Hedge fund, hedge funds, and Venture capital, venture capital funds. Shares of such funds registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value. It is also a key figure with regard to hedge funds and venture capital funds when calculating the value of the underlying investments in these funds by investors. This may also be the same as the book value or the shareholders' equity, equity value of a business. Net asset value may represent the value of the total equity, or it may be divided by the number of shares outstanding held by investors, thereby representing the net asset value ''per share''. Overview Net asset value and other accounting and recordkeeping activities are the result of the process of fund accounting (also k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Share Price
A share price is the price of a single share of a number of saleable equity shares of a company. In layman's terms, the stock price is the highest amount someone is willing to pay for the stock, or the lowest amount that it can be bought for. Behaviour of share prices In economics and financial theory, analysts use random walk techniques to model behavior of asset prices, in particular share prices of companies publicly listed. This practice has its basis in the presumption that investors act rationally and without biases, and that at any moment they estimate the value of an asset based on future expectations. Under these conditions, all existing information affects the price, which changes only when new information comes out. By definition, new information appears randomly and influences the asset price randomly. Empirical studies have demonstrated that prices do not completely follow random walks. Low serial correlations (around 0.05) exist in the short term, and slightly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
