diffuse term often applied to a single premium whole of life or endowment policy providing minimal guaranteed death benefits and with little or no contractual penalty for early surrender; often applied to a ‘cluster’ of identical life policies designed to facilitate flexibility on making partial surrenders.

Sets out details of investments held by a pension fund and the buying and selling transactions that have taken place. It explains why the particular investments were chosen and why changes were made in the investment portfolio.

The risk that the rates of investment returns anticipated in insurance and investment calculations are not achieved.
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Possibility that an investment in a stock, bond or similar security may lose its market value for any reason, thus, causing loss of wealth or income to the holder of this security. This risk relates to security market conditions.

A company that invests in stocks and shares bought with the capital subscribed by shareholders, retained profits and loan finance. The shares of the trust are available only to the extent that existing shareholders are prepared to sell the whole or a part of their holdings.

long term business with investment content whose return is linked to the performance of a specified asset, group of investments, or index.