A glossary of terms used in ETFM
Assets under management (AUM) – the market value of the assets a company looks after on behalf of investors.
Bank for International Settlements (BIS) – an organisation which serves central banks in pursuing monetary and financial stability.
European fund and asset management association (Efama) – an organisation which represents the investment industry.
European Securities and markets authority (Esma) – an independent EU authority designed to help safeguard the stability of the EU financial system.
Exchange-traded commodity (ETC) – Exchange-traded commodities are an ETN that tracks either individual commodities or broader based commodity indices.
Exchange-traded notes (ETN) – ETNs are senior, unsubordinated debt instruments issued by a single bank and listed on the exchange.
Exchange-traded products (ETP) – includes ETFs, ETCs and ETNs.
Financial Stability Board (FSB) – an international body established to regulate and supervise the financial markets.
Markets in Financial Instruments Directive (MiFID) – a directive which was affected under EU law in 2007; it covers almost all tradable financial instruments.
Over-the-counter (OTC) - trades which are conducted off-exchange.
Quantitative easing (QE) – the process by which a central bank buys assets from other banks in order to inject money into the economy.
Undertakings for collective investments in transferable securities (Ucits) – an EU directive originally enacted in 1985. The fourth version of Ucits was implemented in July this year.
Feasibility study due
'Let’s be bold enough to demand change'
Joint life second death option added to relieve tax burden on couples gifting assets
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record