Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1
|
|
- Branden Waters
- 8 years ago
- Views:
Transcription
1 29cis Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 29: The types and uses of a stock exchange index London Stock Exchange indices o FTSE 100 o FTSE 250 o FTSE 350 o FTSE All Share
2 Stock indices Stock indices provide a snapshot of how share prices are performing in a particular market, or across several markets Stock indices can measure price movements across: A selection of shares from several different stock markets around the world All shares listed on a single stock market A selection of shares from a single stock market Shares classified according to market capitalisation o Large-cap o Mid-cap o Small-cap Shares classified according to business type o Industrials o Utilities o Pharmaceuticals, etc Shares classified according to business philosophy o Green stocks (sustainability, etc) o Sin-free stocks (no earnings from alcohol, tobacco, gambling, etc) A stock index calculates the aggregate price movement of its targeted stocks on a daily basis, providing a single figure for ease of comparison
3 Why are stock indices useful? It is very difficult an investor to gauge the overall performance of the market from looking individual share price movements By the end of a normal trading day: Some share prices may have moved up sharply on very low volume This might be due to one maverick trade that does not represent the market s view of the stock Some share prices may have moved down sharply because the dividend has just been paid Some sector-specific news might have pushed up the share prices of some important stocks, while the rest of the market drifted lower For instance, the government Regulator might have announced a higher-thanexpected tariff increase for the electricity supply companies A stock index aims to smooth out these anomalies and provide a consistent picture of the mood of the market. They track the market through its ups and down over a period of time.
4 Why are stock indices useful? Vodafone BP Barclays These charts show the movement of three, key, large-cap stocks on the London Stock Exchange over the course of a single trading day: How to sum up the performance of the stock market as a wholethat day? FTSE 100 This chart shows the movement of the FTSE 100 index over the course of the same day This shows investors how the whole market performed
5 Stock indices for performance comparison Most equities investors build up a portfolio of stocks. It would be very foolhardy to place all the money in the shares of a single company Some investors are stock pickers They try to pick out individual companies which have the best prospects These companies might be chosen from across several different countries, e.g. o BP UK o France Telecom France o Henkel Germany o Fiat Italy o Telefonica Spain o Ryanair Ireland o Electrolux Sweden o Credit Suisse Switzerland o InBev Belgium o Philips Netherlands Some investors are market pickers They try to pick out the individual markets which have the best prospects An investor might choose a portfolio to gain broad exposure to a market which looks very cheap right across the board, e.g. UK at the end of 2008 o RBS o Lloyds TSB o British Airways o National Express o Severn Trent o Centrica o BT Group o Vodafone o Tesco o Barratt Devts FTSE 100
6 Stock indices for performance comparison (cont.) How does the equity investor gauge whether he /she has chosen the best stocks, or whether it is time to switch into others? The stock picker: The stock-picker would compare the performance of the share with the relevant local index France Telecom: the CAC 40 Index measures shares prices traded on the Paris Bourse The market picker: The investor who has tried to pick a market would compare the performance of an index with the performance of another index over the same period The FTSE 100 measures the share prices of the largest 100 UK companies FTSE 100 vsdji Over the past six months, the FTSE 100 has under-performed the Dow Jones Industrial Index in New York
7 UK stock indices In the UK, stock indices are calculated and published by FTSE International, originally a joint venture between The Financial Times and the London Stock Exchange. The main FTSE indices are: FTSE 100 An index of the largest 100 UK companies, representing about 70% of the whole UK stock market by value This index is commonly referred to as the Footsie FTSE 250 An index of the next 250 medium-or middle-sized companies below the 100 The FTSE 250 is the main mid-cap index FTSE 350 A combination of the 100 and 250 indices The FTSE 350 is broken down into industry sectors, such as Retailing and Transport FTSE All Share Covers over 600 companies, including the 350 The FTSE All Share accounts for about 98% of the UK market by value It is often used as the benchmark against which diversified share portfolios are measured
8 Keeping UK stock indices up-to-date The FTSE 100, 250 and 350 indices are reviewed every three months to ensure that their constituent stocks reflect their intended sections of the market Share prices can change significantly over a three month period Share price movements inevitably impact market capitalisation o Market capitalisation is the share price multiplied by the number of shares listed A company which has enjoyed a rapid increase in market cap may replace a company whose market cap has been static or is falling Recent inclusions in the FTSE 100 ARM Holdings Investec Resolution Tomkins Weir Group GKN Recent exclusions from the FTSE 100 Capital & Counties Properties Thomas Cook Group Travel & Leisure London Stock Exchange Group Segro Real Estate Investment Trust Home Retail Group General Cable & Wireless Worldwide Note: the FTSE All Share is reviewed annually
9 Tracker funds Surprisingly few stock-pickers manage to outperform the index. The prices of the shares they have chosen perform less well in aggregate than the market(s) as a whole (as measured by the relevant index) Performance of balanced managed pension funds vs the stock-market Many investors take the view that if so many professional fund managers fail to beat the index, there is no point in paying them fees to pick stocks in the first place They might as well invest in the market as a whole buy a tracker fund Tracker funds try to build portfolios of stocks that move in line with the market as a whole A FTSE All Share tracker fund might hold 150 of the index s 630 constituent stocks and aim to match the movements of the index with 95% accuracy
10 Tracker funds and index constituents About 35% of all UK pensions funds (by value) track indices. Therefore the quarterly review of the constituent stocks of an index can have a major impact on individual share prices. When a stock is dropped from the FTSE 100 index, tracker funds benchmarked against the FTSE 100 no longer have any need to own it With so many tracker funds selling the stock, the share price is likely to fall When a stock is elevated to the FTSE 100 index, tracker funds benchmarked against the FTSE 100 will probably have to include it in their portfolios for the first time With so many tracker funds buy the stock, the share price is likely to rise A recent academic study in the US found that the prices of stocks added to the S&P 500 index between 1990 and 2005 rose by almost 9% around the time of their inclusion in the index. Stocks deleted from the index have tumbled by even more.
11 The importance of index inclusion Investors understand very well the importance of index inclusion, and will keep close watch on the market caps of stocks They may buy the shares of likely candidates for inclusion in an index They may sell the shares of companies likely to be dropped from an index Companies try very hard to keep they shares prices high enough to remain constituents of key stock indices This is not only for the prestige: borrowing costs can be lower for FTSE 100 companies
12 Stock indices as a measure of economic sentiment Economic growth is very dependent on people s and businesses confidence in the future. This confidence determines how much they are willing to spend now or save for a rainy day later. Central banks look closely at confidence indicators when setting interest rates Stock indices are a good early indicator of confidence levels Investors try to buy shares at the bottom, just before an upturn Investors will look for signs that the corner has been turned Companies order-books have stopped shrinking Decisions are taken to invest in additional capacity Export prices are improving Sometimes investors just get a gut feel that the economy is improving Investors try to sell shares at the top of the market just before a downturn Investors will look for signs that profits are peaking Order-books are growing at a much slower rate Investment decisions are suddenly put on hold Margins are being cut to maintain market share Sometimes investors become uneasy that prices have moved up too far, too fast and sell in order to lock in their profit
13 Stock indices as a leading indicator The stock market will often anticipate the movement in the economy by several months. Investors start selling their shares long before the peak in economic growth Investors start buying shares long before the bottom of the trough in economic activity
14 World stock indices Some of the other main indices that are regularly quoted in the financial press are: Country USA Name Dow Jones Industrial Average (DJIA or The Dow ): Providinga narrow view of the US stock market USA Standard & Poor s 500 (S&P 500): Providing a wider view of the US stock market USA Nasdaq Composite: Focusing on the shares traded on Nasdaq, includingmany technology companies Number of constituent stocks ,000+ Japan Nikkei France CAC Germany Xetra Dax 30
Success with fixed index annuities
Allianz Life Insurance Company of North America M3596 For agent use only not for use with the public. Page 1 of 12 The Allianz vision At Allianz, we believe that every American should have the opportunity
More informationHow To Know If You Should Buy A Stock On A Stock Exchange
Making Investment Decisions The goal of the competition is to make as much money as possible by the end of the trading period. You do this by buying and selling shares through the online virtual trading
More informationCIS UK Growth Trust. A focused, stockpicking FTSE All-Share fund with strong performance since inception. Product profile as at 31/03/2013
CIS UK Growth Trust A focused, stockpicking FTSE All-Share fund with strong performance since inception. Product profile as at 31/03/2013 This document is intended for investment professionals and professional
More informationVanguard Investments Hong Kong Limited December 2015
PRODUCT KEY FACTS Vanguard FTSE Developed Europe Index ETF Vanguard Investments Hong Kong Limited December 2015 This is an exchange traded fund. This statement provides you with key information about this
More informationContracts for Difference (CFDs)
Interactive Brokers presents Contracts for Difference (CFDs) Andrew Wilkinson, Interactive Brokers Chief Market Analyst awilkinson@interactivebrokers.com Webinar begins @ 12:00 pm EST webinars@interactivebrokers.com
More information1300 307 853 cfds@commsec.com.au commsec.com.au. Important Information
CommSec CFDs: Introduction to Indices We re here to help To find out more, call us on 1300 307 853, from 8am Monday to 6am Saturday, email us at cfds@commsec.com.au or visit our website at commsec.com.au.
More informationHow do CFDs work? CFD trading is similar to traditional share dealing, with a few exceptions.
What is a CFD? A CFD is an agreement to exchange the difference between the opening and closing prices of the share, index or commodity between the time at which a contract is opened and the time at which
More informationWhat Every Investor Needs to Know About Investing Internationally
S T R A T E G I C G L O B A L A D V I S O R S, L L C What Every Investor Needs to Know About Investing Internationally In this report, you will discover what every investor needs to know about international
More informationA guide to CFDs. Contracts for difference. For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.
A guide to CFDs Contracts for difference For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.uk One College Square South, Anchor Road, Bristol, BS1 5HL www.hl.co.uk
More informationLearn about active and passive investing. Investor education
Learn about active and passive investing Investor education Active, passive or both: Which is right for you? Portfolios can be built using actively managed and index mutual funds either individually or
More informationRules-Based Investing
Rules-Based Investing Disciplined Approaches to Providing Income and Capital Appreciation Potential Focused Dividend Strategy International Dividend Strategic Value Portfolio (A: FDSAX) Strategy Fund (A:
More informationACTIVITY 20.1 THE LANGUAGE OF FINANCIAL MARKETS: DEFINITIONS
ACTIVITY 20.1 THE LANGUAGE OF FINANCIAL MARKETS: DEFINITIONS AMEX: The acronym stands for American Stock Exchange, formerly an independent market but now part of the New York Stock Exchange; the AMEX s
More informationActive and passive investing What you need to know
Active and passive investing What you need to know This guide has been produced for educational purposes only and should not be regarded as a substitute for investment advice. Vanguard Asset Management,
More informationPrinciples for investment success. We believe you will give yourself the best chance of investment success if you focus on what you can control
Principles for investment success We believe you will give yourself the best chance of investment success if you focus on what you can control Important information This guide has been produced for educational
More informationStaying alive: Bond strategies for a normalising world
Staying alive: Bond strategies for a normalising world Dr Peter Westaway Chief Economist, Europe Vanguard Asset Management November 2013 This document is directed at investment professionals and should
More informationCertificate for Introduction to Securities & Investment (Cert.ISI) Unit 1
26cis Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 26: World Stock Markets London Stock Exchange NYSE Nasdaq Euronext Tokyo Stock Exchange Deutsche Borse Stock markets
More informationINTERNATIONAL ECONOMIC PERFORMANCE SINCE THE STOCK MARKET BUBBLE
INTERNATIONAL ECONOMIC PERFORMANCE SINCE THE STOCK MARKET BUBBLE A JOINT ECONOMIC COMMITTEE STUDY Vice Chairman Jim Saxton (R-NJ) Joint Economic Committee United States Congress March 2004 Executive Summary
More informationCase Studies in Financial Planning
Case Studies in Financial Planning Joel Greenwald, MD CFP Greenwald 1660 South Highway 100, Suite 270 St. Louis Park, MN 55416 Telephone: 952 641 7595 joel@joelgreenwald.com Securities and Advisory Services
More informationINTERNATIONAL SECURITIES TRADING NOW YOU CAN INVEST ACROSS THE WORLD
INTERNATIONAL SECURITIES TRADING NOW YOU CAN INVEST ACROSS THE WORLD YOU ARE WHAT YOU DO INTERNATIONAL SECURITIES TRADING III CONTENTS CONTENTS Welcome Welcome 1 2 Trade international securities with
More informationUnderstanding Portfolios. Reading the Portfolio
Understanding Portfolios Reading the Portfolio The Portfolio Menu Navigation Menu provides access to various areas in a team s portfolio. It is available on all the pages of a team s online portfolio.
More informationJPMorgan Income & Capital Trust plc Annual General Meeting. 2 July 2015
JPMorgan Income & Capital Trust plc Annual General Meeting 2 July 2015 Agenda JPMorgan Income & Capital Trust plc performance Portfolio positioning Outlook 1 Performance review Financial year to 28 February
More informationInternational Securities Trading now you can invest across the world
International Securities Trading now you can invest across the world INTERNATIONAL SECURITIES TRADING iii CONTENTS Welcome 2 Trade international securities with CommSec and Pershing 2 International trading
More informationLearn About The Different Markets
14878.0351 348939.487 34598.6325 66875.0449 34838.0371 34898.5321 94898.6327 54798.0321 44898.0324 54695.3522 96898.0321 24848.6323 44898.0321 34898.0328 14878.0351 348939.487 34598.6325 66875.0449 34838.0371
More informationREASONS TO TRADE STOCK INDEX FUTURES
10 REASONS TO TRADE STOCK INDEX FUTURES 10 TEN REASONS TO TRADE STOCK INDEX FUTURES Because it s difficult for almost anyone to select only the top-performing individual stocks, even in bull market conditions,
More informationMONTHLY SCORECARD. Portfolio Advisory Group U.S. Equities December 3, 2015
RBC Wealth Management MONTHLY SCORECARD Portfolio Advisory Group U.S. Equities December 3, 2015 Index Performance (Total Return % Change) Index Price 11/30/15 Month Three Months YTD Year Two Years Dow
More information2015 Mid-Year Market Review
2015 Mid-Year Market Review Cedar Hill Associates, LLC www.cedhill.com 6111 North River Road, Suite 1100, Rosemont, Illinois 60018 Phone: 312/445-2900 An Affiliate of MB Financial Bank 2015 Major Investment
More informationActive U.S. Equity Management THE T. ROWE PRICE APPROACH
PRICE PERSPECTIVE October 2015 Active U.S. Equity Management THE T. ROWE PRICE APPROACH In-depth analysis and insights to inform your decision-making. EXECUTIVE SUMMARY T. Rowe Price believes that skilled
More informationThree new stock ETFs for greater global diversification
Three new stock ETFs for greater global diversification Canadian stocks account for less than 4% of publicly traded companies global market value. Investors in Canada, however, allocate 59% of their stock
More informationVanguard Emerging Markets Stock Index Fund
Vanguard Emerging Markets Stock Index Fund Supplement to the Prospectus and Summary Prospectus Dated February 26, 2015 New Target Index Effective as of the start of business on November 2, 2015, Vanguard
More informationExchange Traded Funds Tactical Asset Allocation Tools
Exchange Traded Funds Tactical Asset Allocation Tools Eleanor De Freitas, Catherine Barker 1 Barclays Global Investors Exchange traded funds (ETFs), combine the advantages of both index funds and stocks.
More informationMirae Asset Global Investments (Hong Kong) Limited
PRODUCT KEY FACTS Horizons Exchange Traded Funds Series- 17 November 2015 This is an exchange traded fund. This statement provides you with key information about this product. This statement is a part
More informationwww.medirectbank.be Quarterly Report Wealth Management All content 2016 MeDirect More information visit www.medirectbank.be July - September 2015
www.medirectbank.be Quarterly Report Wealth Management July - September 2015 All content 2016 MeDirect More information visit www.medirectbank.be In a volatile year such as 2015, a good asset manager proves
More informationDiversify portfolios with U.S. and international bonds
Diversify portfolios with U.S. and international bonds Investing broadly across asset classes such as stocks, bonds and cash can help reduce volatility and risk within a portfolio. Canadian investors have
More informationSaving and Investing 101 Preparing for the Stock Market Game. Blue Chips vs. Penny Stocks
Saving and Investing 101 Preparing for the Stock Market Game ============================================================================== Size Segmentation Blue Chips vs. Penny Stocks Blue chips, like
More informationCONTRACTS FOR DIFFERENCE
CONTRACTS FOR DIFFERENCE Cornhill Capital helps private client investors realise significant value in an innovative trading environment. Cornhill Capital Limited is a leading independent investment company
More informationShares spread bet details
We are pleased to offer thousands of different world shares, including around 1500 individual UK shares. Over 7000 shares, across the world s major indices, are available at margin rates starting from
More informationIntroduction to Exchange Traded Funds
Introduction to Exchange Traded Funds In the current world, the financial market has become increasingly complex. Many dynamic investment instruments are created to meet the diverse needs of the investors.
More informationStock Index Futures Spread Trading
S&P 500 vs. DJIA Stock Index Futures Spread Trading S&P MidCap 400 vs. S&P SmallCap 600 Second Quarter 2008 2 Contents Introduction S&P 500 vs. DJIA Introduction Index Methodology, Calculations and Weightings
More informationINVESTMENT UNPLUGGED WHY CHOOSE A DISCRETIONARY INVESTMENT MANAGER?
WHY CHOOSE A DISCRETIONARY INVESTMENT MANAGER? WHAT IS DISCRETIONARY INVESTMENT MANAGEMENT? This is a service offered by professional investment managers for those with funds available for investment who
More informationThe 2014 Global Market - Institutional Investors and Austrian Stocks
Institutional Investors and Austrian Stocks in 2014 Institutional Investors and Austrian Stocks in 2014 International institutional investors remain the largest stakeholders in the ATX prime, having increased
More informationA Tradition of Excellence ROTHSCHILD ASSET MANAGEMENT
A Tradition of Excellence ROTHSCHILD ASSET MANAGEMENT AN ENDURING LEGACY Following the advice of their father, the five sons of Mayer Amschel Rothschild each set up office in one of the great financial
More informationBMO Global Asset Management (Asia) Limited 11 February 2016
Product Key Facts BMO MSCI EUROPE QUALITY HEDGED TO USD ETF BMO Global Asset Management (Asia) Limited 11 February 2016 Quick facts This is an exchange traded fund. This statement provides you with key
More informationRegistered country information Vanguard Investment Series plc and Vanguard Funds plc
Registered country information Vanguard Investment Series plc and Vanguard Funds plc The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
More informationHow To Understand The Stock Market
We b E x t e n s i o n 1 C A Closer Look at the Stock Markets This Web Extension provides additional discussion of stock markets and trading, beginning with stock indexes. Stock Indexes Stock indexes try
More informationVanguard UK Short-Term Investment Grade Bond Index Fund
Vanguard UK Short-Term Investment Grade Bond Index Fund May 2013 LAUNCH BRIEFING Fund summary The Vanguard UK Short-Term Investment Grade Bond Index Fund expands the low-cost asset allocation building
More informationHow Hedging Can Substantially Reduce Foreign Stock Currency Risk
Possible losses from changes in currency exchange rates are a risk of investing unhedged in foreign stocks. While a stock may perform well on the London Stock Exchange, if the British pound declines against
More informationInstitutional Investors and the CEE Stock Exchange Group in 2014
Institutional Investors and the CEE Stock Exchange Group in 2014 Institutional Investors and the CEE Stock Exchange Group in 2014 The top group of investors in the combined free float of the member exchanges
More informationGlobal Investment Trends Survey May 2015. A study into global investment trends and saver intentions in 2015
May 2015 A study into global investment trends and saver intentions in 2015 Global highlights Schroders at a glance Schroders at a glance At Schroders, asset management is our only business and our goals
More informationIndex trackers and cluster munitions
Index trackers and cluster munitions A briefing note prepared by Profundo i for IKV Pax Christi and FairFin, 15 October 2012. Introduction Financial institutions that exclude investments in producers of
More informationwww.pwc.com IPO Watch Europe Survey Q2 2013
www.pwc.com IPO Watch Europe Survey Q2 2013 Contents Quarterly European IPO activity by value and volume 3 Market volatility index and stock market performance 4 IPO offering value 5 IPO volume 6 Top ten
More informationINDUSTRY LEADING DERIVATIVES EXPERTS. www.insightcapitalstrategies.com Tel: 0141 375 1246
INDUSTRY LEADING DERIVATIVES EXPERTS www.insightcapitalstrategies.com Tel: 0141 375 1246 Insight specialises in generating tax-free capital growth by investing client funds using spread betting platforms
More information* Principal U.S. Listing Exchange: NYSE Arca, Inc. (except GULF, DXPS, DXJS, DXGE, DXKW, EMCG, CXSE and DGRE are listed on NASDAQ).
PROSPECTUS International Equity ETFs August 1, 2015 as revised November 12, 2015 WisdomTree Trust WisdomTree International Equity ETFs* Developed World ex-u.s. International Equity Fund (DWM) (formerly,
More informationSTOCKS AND THE ECONOMIC CYCLE: WHAT PERFORMS WELL AND WHEN
STOCKS AND THE ECONOMIC CYCLE: WHAT PERFORMS WELL AND WHEN By Wayne A. Thorp While stocks as a whole move in advance of the economy, specific sectors have different relative performance throughout the
More informationAn easy way of investing offshore
A JSE / Deutsche Bank initiative An easy way of investing offshore Exchange Traded Funds ETFs Itrix DJ EURO STOXX 50 Itrix FTSE 100 Itrix ETFs allow you to Diversify your investment portfolio offshore
More informationInvestments. To meet your financial goals you will need a plan. Part of this plan is to create a portfolio.
Investments To meet your financial goals you will need a plan. Part of this plan is to create a portfolio. This portfolio reflects what type of risk you are willing to accept. Within this portfolio, you
More informationCompany Fundamentals. THE CMC Markets Trading Smart Series
Company Fundamentals THE CMC Markets Trading Smart Series How to evaluate company growth potential At any given point in time, share prices tend to represent the sum of expectations about its value from
More informationEverything You Need to Know About CFDs
Everything You Need to Know About CFDs Contracts for Difference, or CFDs, have been used for more than 20 years, but did not become popular with retail traders until after 2000. Essentially, a CFD is a
More informationTHE EQUITABLE LIFE INSURANCE COMPANY OF CANADA
universal life savings & Investment opportunities THE EQUITABLE LIFE INSURANCE COMPANY OF CANADA Universal Life Savings & Investment Opportunities Universal Life plans offer the benefits of two distinct
More informationFTSE All-World ex Fossil Fuels Index Series
FTSE FACTSHEET FTSE All-World ex Fossil Fuels Index Series Data as at: 31 August 2015 bmktitle1 Market participants are increasingly looking to manage carbon exposure in their investments, and reduce write-off
More informationCanada Life Manager-of-Managers
Canada Life Manager-of-Managers Contents What is the Manager-of-Managers approach to investing? What are the benefits to investors? Is this a new approach to investing? Who are SEI? Key facts SEI global
More informationPractice Essentials. Index-Linked Insurance Products 201 THE S&P MIDCAP 400 AND ITS ROLE IN INDEXED INSURANCE PRODUCTS
Index-Linked Insurance Products 201 Practice Essentials THE S&P MIDCAP 400 AND ITS ROLE IN INDEXED INSURANCE PRODUCTS S&P Indices licenses insurance carriers to use the S&P 500 and the S&P MidCap 400 within
More informationHow To Get A Better Return From International Bonds
International fixed income: The investment case Why international fixed income? International bonds currently make up the largest segment of the securities market Ever-increasing globalization and access
More informationMaking Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor. October, 2008
Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor October, 2008 1 Market Ups and Downs Recent news is full of anxiety-causing developments: Credit crunch Bank
More informationIntroductory Guide to CFDs
N E W Y O R K C H I C A G O L O N D O N D U B A I * T O K Y O S I N G A P O R E S Y D N E Y A D A Introductory Guide to CFDs Above all, Integrity. +44 (0) 207 170 0770 LONDON MAIN 0800 358 0864 FREE PHONE
More information2012 Important Information for Corporate Shareholders
IMPORTANT TAX INFORMATION Updated 4/30/2013. Affected funds: Fidelity Four-in-One Index Fund, Fidelity Global Equity Income Fund, and Fidelity Global Strategies Fund. We have circled all revised percentages.
More informationIntroduction to Indices and Mutual Funds
Introduction to Indices and Mutual Funds Week 2: Chapter 2, 4 Nikunj Kapadia 1 Market Indices (Chapter 2) What is an index? Why are stock market indices important? What are the difference ways in which
More informationVirtual Stock Market Game Glossary
Virtual Stock Market Game Glossary American Stock Exchange-AMEX An open auction market similar to the NYSE where buyers and sellers compete in a centralized marketplace. The AMEX typically lists small
More informationGetting the Most Out of Your Investment Committee
Getting the Most Out of Your Investment Committee August 2011 Campion Wealth Management 1934 Old Gallows Road, Suite 402 Vienna, Virginia (703) 848-0344 www.campionwealth.com Who We Are and What We Do
More informationETFs and their Place in the 401(k) Market
ETFs and their Place in the 401(k) Market Agenda Unique benefits of ETFs Why ETFs in 401(k)? How does it work? How are advisors using ETFs? What s next? 2 AN INTRODUCTION TO ISHARES 1 The BlackRock - ishares
More informationJPMorgan Funds statistics report: High Yield Fund
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE JPMorgan s statistics report: High Yield Must be preceded or accompanied by a prospectus. jpmorganfunds.com Table of contents PERFORMANCE DURATION Performance
More informationIntro to Financial Planning
Intro to Financial Planning What is my life expectancy? born in 1930 men 57 women 60 65 in 1995 men 81 women 85 75 in 2005 men 86 women 88 born in 1990 men 72 women 79 65 in 2055 men 97? women 104? 75
More informationGLOSSARY OF INVESTMENT-RELATED TERMS FOR NATIONAL ELECTRICAL ANNUITY PLAN PARTICIPANTS
GLOSSARY OF INVESTMENT-RELATED TERMS FOR NATIONAL ELECTRICAL ANNUITY PLAN PARTICIPANTS General Information This Glossary of Investment-Related Terms for National Electrical Annuity Plan Participants (the
More informationMargin and Exposure 14878.0351 348939.487 34598.6325 66875.0449
14878.0351 348939.487 34598.6325 66875.0449 34838.0371 34898.5321 94898.6327 54798.0321 44898.0324 54695.3522 96898.0321 24848.6323 44898.0321 34898.0328 14878.0351 348939.487 34598.6325 66875.0449 34838.0371
More informationHow Wall Street Works Nightly Business Report
Notes from the PBS video How Wall Street Works Nightly Business Report The New York Stock Exchange located on Wall Street in New York City, is traders can buy and sell stocks and bonds. Two major types
More informationinvesting mutual funds
investing mutual funds our mission The mission of The USAA Educational Foundation is to help consumers make informed decisions by providing information on financial management, safety concerns and significant
More informationMarkit Global Business Outlook Survey
News Release EMBARGOED UNTIL: 00:01 (UK), 14 July 2014 Markit Global Business Outlook Survey Worldwide business confidence wanes Global optimism slips from two-year high Waning confidence centred on eurozone
More informationTrading in International Equities For Professional Advisers only - not to be relied upon by retail clients
Trading in International Equities For Professional Advisers only - not to be relied upon by retail clients 2 ALLIANCE TRUST SAVINGS About us We are part of the Alliance Trust group and have the backing
More informationDJSI Diversified Family
DJSI Diversified Family RobecoSAM DJSI Diversified Family 06/2015 RobecoSAM AG www.sustainability-indices.com www.robecosam.com Investment Rationale The Dow Jones Sustainability Diversified Indices (DJSI
More informationJUPITER DIVIDEND & GROWTH TRUST PLC MONTHLY FACT SHEET : 30-NOV-2015 TOTAL ASSETS 53,465,619
MONTHLY FACT SHEET : 30-NOV-2015 TOTAL ASSETS 53465619 Assets attributable to: Common shares * 10548403 Ordinary shares 850838 Zero Dividend Preference shares 42066378 SHARES Net Asset Value Market Price
More informationA VERY DIFFERENT NASDAQ
LPL RESEARCH WEEKLY MARKET COMMENTARY KEY TAKEAWAYS The Nasdaq Composite just hit 5000 today as this report was going to press and is nearing its all-time record closing high of 5048. Even with the Nasdaq
More informationA guide to INVESTMENT TRUSTS. We ve been investing successfully since 1888. We re on the right course to invest for generations.
A guide to INVESTMENT TRUSTS We ve been investing successfully since 1888. We re on the right course to invest for generations. 2 A guide to Investment Trusts Contents 3 Investment Trusts explained 4 Differences
More informationYukon Wealth Management, Inc. Private Wealth Management
Asset Class Review Value vs. Growth Large-Cap Value: 3 Small-Cap Value: 4 Large-Cap Growth: 3 Small-Cap Growth: 3 1 is extremely undervalued, 5 is extremely overvalued This summary reflects our views as
More informationChapter 3.1. Hedging with CFDs
1 Chapter 3.1 Hedging with CFDs 0 HEDGING WITH CFDS Successful share and CFD traders realize that protecting the money they have is just as important, if not more so, than earning more money from trading.
More informationAllianz MasterDex X Annuity. Allianz Life Insurance Company of North America CB52575-NFA-CA-2. Page 1 of 16
Allianz Life Insurance Company of North America CB52575-NFA-CA-2 Page 1 of 16 Discover the MasterDex X Annuity from Allianz. A fixed index annuity from Allianz can be a valuable asset. A prudent plan shouldn
More informationA strong year for retail bonds
A strong year for retail bonds The Orderbook for Retail Bonds (ORB) opened 1 February 2010, with the aim of promoting both a transparent secondary market in bonds for retail investors as well as developing
More informationHow To Get A Masterdex X Annuity
Allianz Life Insurance Company of North America Allianz MasterDex X Annuity Focus on the X factor CB52575-NFA-3 1 of 20 Discover the MasterDex X Annuity A fixed index annuity from Allianz Life Insurance
More informationTransamerica CI Growth Portfolio. Portfolio Review Fourth Quarter 2012
Transamerica CI Growth Portfolio Portfolio Review Fourth Quarter 2012 Portfolio Managers Economic Overview In the income sector, investors continued to favour higheryielding securities in the fourth quarter
More informationAllianz MasterDex X Annuity
Allianz Life Insurance Company of North America Allianz MasterDex X Annuity Focus on the X factor CB52575-3 Page 1 of 16 Page 2 of 16 Discover the MasterDex X Annuity A solid retirement plan considers
More informationAthens University of Economics and Business
Athens University of Economics and Business MSc in International Shipping, Finance and Management Corporate Finance George Leledakis An Overview of Corporate Financing Topics Covered Corporate Structure
More informationCertificate for Introduction to Securities & Investment (Cert.ISI) Unit 1
14cis Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 14: Pension funds Insurance companies Who buys government bonds? Government bonds are bought in large quantities by
More informationA guide to Financial Spread Betting
A guide to Financial Spread Betting For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.uk One College Square South, Anchor Road, Bristol, BS1 5HL www.hl.co.uk
More informationCore/Satellite Investing
For professional investors only Core/Satellite Investing Core/satellite portfolio construction aims to combine the most effective characteristics of index and alpha-generating strategies offering flexibility
More informationCHAPTER 2. Asset Classes. the Money Market. Money market instruments. Capital market instruments. Asset Classes and Financial Instruments
2-2 Asset Classes Money market instruments CHAPTER 2 Capital market instruments Asset Classes and Financial Instruments Bonds Equity Securities Derivative Securities The Money Market 2-3 Table 2.1 Major
More informationWhy Going International is a Big Idea for Small-Cap Investing
AllianzGI International Small-Cap Fund Why Going International is a Big Idea for Small-Cap Investing Investment Solutions Second Quarter 2015 AllianzGI International Small-Cap Fund symbols: A shares: AOPAX
More informationQ1 14 Global IPO update. January March 2014
Q1 14 Global IPO update January March 214 Table of contents Section Content Slides 1 214 January March* highlights 4 7 2 Global IPO activity trends Global analysis Regional analysis Industry analysis Stock
More informationOutline. Securities Markets. Markets. Money and Capital Markets. Markets Orders Positions Information
Outline Securities Markets Economics 71a Spring 2007 Mayo, Chapter 3 Lecture notes 2.3 Markets Orders Positions Information Primary markets Markets New issues (IPO s, corporate and public debt) Secondary
More informationAllianz 222 Annuity. Protection and flexible benefits. Allianz Life Insurance Company of North America CB95352-1
Allianz Life Insurance Company of North America Allianz 222 Annuity Protection and flexible benefits CB95352-1 Must be used with Allianz 222 Annuity consumer brochure insert (CB95352-B) or appropriate
More informationJOHNS HOPKINS UNIVERSITY INVESTMENT OPTIONS
JOHNS HOPKINS UNIVERSITY INVESTMENT OPTIONS P E R F O R M A N C E U P D A T E AS OF DECEMBER 31, 2009 UNDERSTANDING INVESTMENT PERFORMANCE As you review this update, please remember that the performance
More informationNew Insights into the Case for Emerging Market Equities
www.brandes.com/institute New Insights into the Case for Emerging Market Equities The robust economic growth associated with emerging markets has attracted the attention of many institutional and private
More informationIntroduction to Investments FINAN 3050
Introduction to Investments FINAN 3050 : Introduction (Syllabus) Investments Background and Issues (Chapter 1) Financial Securities (Chapter 2) Syllabus General Information The course is going to be organized
More information