advanced = "

You're an experienced investor with a diversified range of UK and international securities.

You read the business news avidly, check your investments weekly and trade regularly.

"; adventurous = "

You want to see real growth in your capital over 3 to 5 years and you're not worried about short-term losses.

You're happy to buy a wide range of investments, including those of a more volatile nature.

While you are seeking to make a profit, you can afford to lose the money you invest.

"; annual_management_charge ="

A charge usually in the order of 0.5% to 2% of the value of the fund levied for the management of a trust or other fund.

"; bacs = "

To use Bankers Automated Clearing System (BACS), contact your bank and provide them with:

1. Your customer reference number

2. Your account number

3. Our bank account details:

Bank of Scotland

Branch = Edinburgh
Account number = 00100130
Sort code = 12 21 37

Account name = The Share Centre Limited Customer Transfer A/C

A BACS payment takes three working days to be received.

"; balanced = "

shares categorised as providing a balanced return will generally provide a dividend yield, generally in line with the average of the FTSE All Share index , of between 2-4% gross along with some capital growth.

"; bare_trust = "

A bare trust, also known as a 'simple trust', is one in which each beneficiary has an immediate and absolute right to both capital and income.

The beneficiaries of a bare trust have the right to take actual possession of trust property.

"; beginner = "

You're pretty new to investing and have limited knowledge of how the stock market works.

You don't have much time to monitor your investments.

"; bid_offer_spreads = "

The difference between the selling price and the purchase price for investments.

When you ask a broker what price the shares of a company are trading at in the market, he will quote two prices:
- the bid price is the price at which you can sell your shares
- the offer price is the price at which you can buy them

Market makers, who act like wholesalers in the stock market, make their profit from the spread - they buy shares from you at the bid price and sell them to you at the offer price

"; bid_price = "

The price at which you sell your holding in the fund back to the Fund Manager.

"; blue_chip = "

Shares with the highest status and quality as investments. Blue-chip stocks are normally relatively high-priced stocks with a long record of dividend payments.

"; cautious = "

You want to achieve returns better than the rate of inflation over 5 years or more.

Rather than risk potential sharp falls in the value of your money, you'd prefer stable investments.

"; chaps = "

For same-day transfer of funds, use a CHAPS transfer.

To use CHAPS, contact your bank and provide them with:

1. Your customer reference number

2. Your account number

3. Our bank account details:

Bank of Scotland

Branch = Edinburgh
Account number = 00100130
Sort code = 12 21 37

Account name = The Share Centre Limited Customer Transfer A/C

Your bank may charge you for using this service.

"; cheque = "

Please make cheques payable to The Share Centre Limited quoting your customer reference number and account number on the reverse.

When drawing a cheque from a building society account, please ask them to print your name on the reverse as confirmation the funds came from your account.

"; companies_listed_abroad = "

Overseas markets include the Eurotop 300 and US, enabling you to invest in companies like Nokia, BMW, Coca Cola, Daimler Chrysler, IBM, Microsoft, Novartis and Wal-Mart.

You can deal in overseas shares where they are traded and settled in sterling through the CREST system. You can find out what shares are available to you by calling our Dealing team on 01296 41 42 43 for more details.

"; coupon_on_the_bond = "

The annual rate of interest paid by the issuer of a bond until maturity.

So, for example, Marks and Spencer 6.375% 2011 is paying 6.375% interest per year on the nominal value held until it is repaid by the company in 2011.

The phrase dates from the time when the bonds actually had a tear-off coupon which evidenced your right to be paid by the issuer.

"; current_buy_list = "

Our buy list recommendations are viewed with regard to a medium to longer term time horizon (generally 2 to 3 years plus).

"; debit_card = "

You can pay in online or telephone our Customer Service team or Dealing team and give your card details.

Once payment has been authorised by your bank (usually within 15 minutes) you can place your dealing instructions.

Please note: the name and address your card is registered to must be the same as your Share Account.

"; depository_interests = "

Depositary interests (DIs) are investments where one person holds relevant investments, or rights to those investments, on behalf of the investor. The first person effectively acts as the investor's nominee.

One common form of DI is a CREST Depository Interest or CDI, where an investor deposits his overseas shares with a nominee company in exchange for a CDI. This allows the shares to be dealt on the CREST system.

Other forms of DI, such as American Depositary Receipts, are also eligible providing the regulations are met.

"; dividend_shares ="

The company can provide for dividends paid on plan shares to be reinvested in further shares.

"; dividends = "

The distribution of part of a company's earnings to shareholders, usually in the form of a cash payment.

"; dividend_yield ="

The dividend yield relates to the annual dividend income per share paid out by a company to its market share price and reflects how much income an investor receives for each pound invested.

Dividend yield =
Net dividend income per share / Market share price

If a company declares a net dividend of 2.5p per share and its share price is 100p, then the dividend yield will be 2.5 / 100 = 2.5%

NOTE
A dividend yield should not be considered in isolation. A comparatively low dividend yield could indicate a high share price that reflects a company\'s positive growth prospects or it could mean that the company cannot afford to pay a decent dividend. A comparatively high dividend yield may provide a dividend that lessens the financial impact of any fall in share price but it may also raise concerns about a company\'s future prospects.

"; equity = "

The amount, or 'share' of a limited company which shareholders own.

Equity is the risk-bearing part of the company's capital and contrasts with debt capital which is usually secured in some way and which has priority over shareholders if the company becomes insolvent and its assets are distributed.

"; fixed_rate ="

A loan in which the interest rate does not change during the entire term of the loan.

"; floating_rate ="

A loan in which the interest rate varies, or floats, during the entire term of the loan.

"; forward_price ="

Forward pricing means the NAV is calculated at the next valuation point.

"; free_shares ="

The company can award up to \xa33,000 of free shares to every qualifying employee each tax year.

"; fund_manager ="

A professional whose job is to decide how fund money is invested

"; advgrowth = "

Shares categorised as providing growth aim to increase the capital value of an investment over time with very little if any dividend yield provided.

"; higher = "

Companies within this classification will, in the main, be smaller companies, such as those which make up the FTSE SmallCap index or are constituent members of AIM. It may also include larger companies, for example those involved in more specialist sectors.

"; advincome = "

Shares categorised as providing income are those that generally have a dividend yield in excess of 4% or greater than that of the FTSE All Share index. Shares will naturaly provide some potential for capital growth but the emphasis will be on the attraction and sustainability of the income.

"; initial_charge ="

A charge imposed by a fund management company to cover administrative and marketing costs, and to pay for any commission that has to be paid to an intermediary.

"; intermediate ="

You have a good understanding of the stock market and the different types of investments available.

You keep up to date with changes in the market and trade investments every few months.

"; issued_shared_capital = "

That part of a company's share capital that has been subscribed by shareholders, either paid up or partially paid up.

"; lower = "

Shares in this category tend to be more established, income producing larger companies and will, in the main, be FTSE 100 companies and are regarded as lower risk relative to medium and smaller sized companies

"; matching_shares ="

Free shares awarded by the company that match any partnership shares bought by the employee.

"; maturity_date ="

The capital repayment date of a bond.

"; medium = "

Mostly companies traded on the main market and in general FTSE 350 companies, judged in terms of market size and volatility. These companies will generally provide some capital growth along with dividend yield.

"; moving_average ="

A moving average is calculated by adding together the closing prices of a financial instrument over a certain number of days and then dividing the sum by the number of days involved.

"; net_asset_value ="

The market value of all assets owned by the fund minus any liabilities the fund has. The NAV is usually quoted on a per unit basis, calculated as the NAV divided by the number of units or shares issued.

"; nominal_value = "

The issued price of a security (stock, share, bond etc). Par value is the same as 'nominal value' and bears no relation to the market price. An ordinary share might have a par value of 100p, but its market value will be determined by supply and demand in the market place, not by its par value.

"; non_ucits_retail_scheme ="

A non-UCITS retail scheme (NURS) is a collective investment scheme authorized by the Financial Services Authority for sale to retail investors in the UK that is not a UCITS scheme.

"; offer_price ="

The price at which you buy your holding from the Fund Manager.

"; paid_out = "

You can elect to have any income received into your account paid out to your bank or building society account at the end of each quarter.

"; partnership_shares ="

Qualifying employees can use up to \xa31500 out of pre-tax and NICs pay per year to buy partnership shares.

"; peg_ratio ="

The PEG ratio relates a company\'s P/E ratio to its estimated future growth rate in earnings per share of the company. It is seen as a better investment tool than the P/E ratio because it considers future growth in addition to historical performance.

PEG ratio =
P/E ratio / Estimated future growth (%)

If a company with a P/E ratio of 20 is forecast a future growth rate of 15%, then the PEG will be 20 / 15 = 1.33.

NOTE
The lower the PEG, the less you pay for estimated future earnings; shares with a PEG of 1 or lower are considered good value. However, a PEG ratio is only as reliable as a broker's forecast; it therefore makes sense to consider multiple or consensus forecasts.

"; p_e_ratio ="

The P/E ratio (also known as the multiple) relates the market share price to earnings per share (EPS) and reflects the price investors are prepared to pay for each pound of earnings of a company.

P/E ratio =
Market share price / Earnings per share
(net profit after tax / number of shares)

For example, for a company with a share price of 100p and EPS of 5p, the P/E ratio is 20.

NOTE
A high P/E indicates that the market expects the company\'s future earnings to grow higher than a company with a lower P/E. However, the P/E should not be considered in isolation but rather used as a tool to compare a company with others within the same industry or to compare a company's current performance with its historical performance.

"; ptm_levy ="

A charge automatically imposed on investors, and collected by their brokers, when they sell or buy shares with an aggregate value in excess of £10,000.

The charge is £1.00, and the money raised goes to the Panel of Takeovers and Mergers.

The Panel writes and enforces the rules by which takeovers of companies listed on the London Stock Exchange are conducted.

"; q0 ="

100% Cash

"; q1 ="

40% Cash

60% Fixed Interest

"; q2 ="

30% Cash

40% Fixed Interest

30% Large Caps UK

"; q3 ="

20% Cash

30% Fixed Interest

40% Large Caps UK

10% Mid Caps UK

"; q4 ="

10% Cash

20% Fixed Interest

40% Large Caps UK

25% Mid Caps UK

5% Property

"; q5 ="

5% Cash

10% Fixed Interest

40% Large Caps UK

25% Mid Caps UK

10% Property

10% Large Caps OECDs

"; q6 ="

5% Cash

10% Fixed Interest

30% Large Caps UK

25% Mid Caps UK

10% Property

15% Large Caps OECD

5% Small Caps UK

"; q7 ="

5% Cash

5% Fixed Interest

30% Large Caps UK

20% Mid Caps UK

10% Property

18% Large Caps OECD

7% Small Caps UK

5% Emerging Markets

"; q8 ="

5% Cash

5% Fixed Interest

22% Large Caps UK

15% Mid Caps UK

10% Property

25% Large Caps OECD

7% Small Caps UK

6% Emerging Markets

5% Specialist

"; real_time ="

Deals placed inside market hours will be dealt immediately. We start dealing real-time orders placed outside market hours from 08:00.

"; reduced_commission_fee ="

0.5% including VAT, plus Stamp Duty

"; reinvest = "

You can elect to reinvest any income received into the your account into a nominated holding at the end of each quarter.

"; reinvested = "

You can elect to reinvest your dividends into the same company that paid the dividend.

"; retain ="

You can elect to retain any income received into your account as a cash balance.

"; retained ="

You can elect to retain any income received into your account as a cash balance.

"; stamp_duty ="

Stamp Duty is a tax on documents which transfer certain types of property, including shares. The broker will collect this charge from clients when they buy shares and account for it to HMRC.

"; tracker_fund ="

A fund which aims to achieve the same returns as a chosen index.

"; ucits ="

A UCIT is an undertaking for collective investment in transferable securities. It is the name of a European Union directive enabling open ended collective investment schemes to be marketed throughout the EU and funds approved under the terms of the Directive are called UCITS funds.

"; zero_coupon_bonds ="

A Zero coupon bond (also called a discount bond or deep discount bond) is a bond issued at a price lower than its face value. A capital profit arises when the bond is repaid at maturity.

It does not make periodic interest payments, or so-called coupons, hence the term zero-coupon bond.

"; mid_price ="

The average of the bid price and offer price.

If, for example, the closing prices of a share are 107p (bid) and 109p (offer), the mid price will be 108p.

"; two_forms_of_identification ="

You must post to us:

- A bank or building society account statement showing entries within the last six months

And one of the following:

- Council tax bill (for the current year)

- Utility bill: gas, electricity, water or home/mobile phone

- Benefits Agency letter confirming the right to benefits or the state pension e.g. child benefit or working families tax credit

- HM Revenue and Customs correspondence or tax notification, e.g. statement of account, tax assessment, notice of coding

If visiting us in person rather than using the post, please also bring a valid passport or driving licence showing your photograph.

Each document must:

- Be the original (no photocopies or internet printouts - remember, you can request an original statement from your bank if needed)

- Be less than six months old

- Show your title (Mr/Mrs etc), initials, surname and permanent residential address

"; quarterly_re_investment = "

If you're investing to build the value of your capital you can choose to have dividends (and other income) reinvested every quarter and enjoy a reduced commission fee.

"; investment_grade__prime_ ="

Bonds that are judged by the rating agency as likely enough to meet payment obligations that banks, pension funds and other financial institutions are allowed to invest in them.

"; non_investment_grade__non_prime_or_junk_ ="

Bonds issued by companies without long track records of sales and earnings, or by those with questionable credit strength.

They are more volatile, riskier and pay higher yields than investment grade bonds.

"; non_stakeholder = "

The Share Centre's non-Stakeholder CTF allows you to choose how to invest for your child from a wide range of investments.

"; eps = 'eps'; eps_growth = 'eps growth'; margin = 'margin'; dealing_commission_credit = "

For every Share plc share you hold, you receive a quarterly 'dealing commission credit' of 3p, up to a maximum allowance of £300 per quarter.

"; why_are_you_asking_for_my_email_ = "

We ask for your email address in case we need to contact you to clarify your instructions or ask for further details.

For example, if you've asked us to change your address, we don't accept a change of address by email. We will email you to ask you to download, print and complete a form, and send it to us in the post.

"; Sterling_Corporate_Bond ="

Funds which invest at least 80% of their assets in Sterling denominated (or hedged back to Sterling), triple BBB minus or above corporate bond securities (as measured by Standard & Poors or an equivalent external rating agency). This excludes convertibles, preference shares and permanent interest bearing shares (PIBs).

"; Sterling_Strategic_Bond ="

Funds which invest at least 80% of their assets in Sterling denominated (or hedged back to Sterling) fixed interest securities. This includes convertibles, preference shares and permanent interest bearing shares (PIBs). At any point in time the asset allocation of these funds could theoretically place the fund in one of the other Fixed Interest sectors. The funds will remain in this sector on these occasions since it is the Manager's stated intention to retain the right to invest across the Sterling fixed interest credit risk spectrum.

"; Sterling_High_Yield ="

Funds which invest at least 80% of their assets in Sterling denominated (or hedged back to Sterling) fixed interest securities and at least 50% of their assets in below BBB minus fixed interest securities (as measured by Standard and Poors or an equivalent external rating agency), including convertibles, preference shares and permanent interest bearing shares (PIBs).

"; Quartile_ranking ="

Quartile rankings are a measure of how well a fund has performed against all other funds in its sector. The rankings range from 1 to 4 for all time periods covered. Funds with the highest percent returns are assigned a quartile of 1, whereas those with the worst returns are assigned a quartile of 4.

"; UK_Gilts ="

Funds which invest at least 95% of their assets in Sterling denominated (or hedged back to Sterling) triple AAA rated, government backed securities, with at least 80% invested in UK government securities (Gilts).

"; UK_Index_Linked_Gilts ="

Funds which invest at least 95% of their assets in Sterling denominated (or hedged back to Sterling) triple AAA rated government backed index linked securities, with at least 80% invested in UK Index Linked Gilts.

"; Global_Bond ="

Funds which invest at least 80% of their assets in fixed interest securities. All funds which contain more than 80% fixed interest investments are to be classified under this heading regardless of the fact that they may have more than 80% in a particular geographic sector, unless that geographic area is the UK, when the fund should be classified under the relevant UK (Sterling) heading.

"; UK_Equity_And_Bond_Income ="

Funds which invest at least 80% of their assets in the UK, between 20% and 80% in UK fixed interest securities and between 20% and 80% in UK equities. These funds aim to have a yield in excess of 120% of the FTSE All Share Index.

"; UK_Equity_Income ="

Funds which invest at least 80% in UK equities and which aim to achieve a historic yield on the distributable income in excess of 110% of the FTSE All Share yield at the fund's year end.

"; UK_Equity_Income_And_Growth ="

Funds which invest at least 80% of their assets in UK equities, aim to have a historic yield on the distributable income in excess of 90% of the yield of the FTSE All Share Index at the fund's year end and which aim to produce a combination of both income and growth.

"; UK_Zeros ="

Funds investing at least 80% of their assets in Sterling denominated (or hedged back to Sterling), and at least 80% of their assets in zero dividend preference shares or equivalent instruments (i.e. not income producing). This excludes preference shares which produce an income.

"; UK_All_Companies ="

Funds which invest at least 80% of their assets in UK equities which have a primary objective of achieving capital growth.

"; UK_Smaller_Companies ="

Funds which invest at least 80% of their assets in UK equities of companies which form the bottom 10% by market capitalisation.

"; Japan ="

Funds which invest at least 80% of their assets in Japanese equities.

"; Japanese_Smaller_Companies ="

Funds which invest at least 80% of their assets in Japanese equities of companies which form the bottom 30% by market capitalisation.

"; Asia_Pacific_including_Japan ="

Funds which invest at least 80% of their assets in Asia Pacific equities including a Japanese content. The Japanese content must make up less than 80% of assets.

"; Asia_Pacific_excluding_Japan ="

Funds which invest at least 80% of their assets in Asia Pacific equities and exclude Japanese securities.

"; North_America ="

Funds which invest at least 80% of their assets in North American equities.

"; North_American_Smaller_Companies ="

Funds which invest a least 80% of their assets in North American equities of companies which form the bottom 20% by market capitalisation.

"; Europe_including_UK ="

Funds which invest at least 80% of their assets in European equities. They may include UK equities, but these must not exceed 80% of the fund's assets.

"; Europe_excluding_UK ="

Funds which invest at least 80% of their assets in European equities and exclude UK securities.

"; European_Smaller_Companies ="

Funds which invest at least 80% of their assets in European equities of companies which form the bottom 20% by market capitalisation in the European market. They may include UK equities, but these must not exceed 80% or the fund's assets. (‘Europe' includes all countries in the MSCI/FTSE pan European indices.).

"; Cautious_Managed ="

Funds investing in a range of assets with the maximum equity exposure restricted to 60% of the fund and with at least 30% invested in fixed interest and cash. There is no specific requirement to hold a minimum % of non UK equity within the equity limits. Assets must be at least 50% in Sterling/Euro and equities are deemed to include convertibles.

"; Balanced_Managed ="

Funds would offer investment in a range of assets, with the maximum equity exposure restricted to 85% of the Fund. At least 10% must be held in non-UK equities. Assets must be at least 50% in Sterling/Euro and equities are deemed to include convertibles.

"; Active_Managed ="

Funds would offer investment in a range of assets, with the Manager being able to invest up to 100% in equities at their discretion. At least 10% must be held in non-UK equities. There is no minimum Sterling/Euro balance and equities are deemed to include convertibles. At any one time the asset allocation of these funds may hold a high proportion of non-equity assets such that the asset allocation would by default place the fund in either the Balanced or Cautious sector. These funds would remain in this sector on these occasions since it is the Manager's stated intention to retain the right to invest up to 100% in equities.

"; Global_Growth ="

Funds which invest at least 80% of their assets in equities (but not more than 80% in UK assets) and which have the prime objective of achieving growth of capital.

"; Global_Emerging_Markets ="

Funds which invest 80% or more of their assets directly or indirectly in emerging markets as defined by the World Bank, without geographical restriction. Indirect investment e.g. China shares listed in Hong Kong, should not exceed 50% of the portfolio.

"; Money_Market ="

Funds which invest at least 95% of their assets in money market instruments (i.e. cash and near cash, such as bank deposits, certificates of deposit, very short term fixed interest securities or floating rate notes).

"; Protected_Guaranteed_Funds ="

Funds, other than money market funds which principally aim to provide a return of a set amount of capital back to the investor (either explicitly guaranteed or via an investment strategy highly likely to achieve this objective) plus some market upside.

"; Specialist ="

Funds that have an investment universe that is not accommodated by the mainstream sectors. Performance ranking of funds within the sector as a whole is inappropriate, given the diverse nature of its constituents.

"; Absolute_Return ="

Funds managed with the aim of delivering absolute (i.e. more than zero) returns in any market conditions.

"; Property ="

Funds which predominantly invest in property. In order to invest 'predominantly' in property, funds should either:

invest at least 60% of their assets directly in property; or

invest at least 80% of their assets in property securities; or

when their direct property holdings fall below the 60% threshold for a period of more than 6 months, invest sufficient of the balance of their assets in property securities to ensure that at least 80% of the fund is invested in property, whereupon it becomes a hybrid fund.

"; Technology_And_Telecom ="

Funds which invest at least 80% of their assets in technology and telecommunications sectors as defined by major index providers.

"; IMA_Sector = "

Unit trusts and OEICs are divided into a variety of categories, known as sectors, to keep together funds of a similar type so that investors can compare funds with similar objectives and investment strategies. Categories include ‘Money market' funds, ‘European' funds, ‘North American' funds etc.

"; FE_Crown_Rating ="

The FE crown ratings are a quant-based ratings system designed to highlight funds that have had superior consistent performance in relation to risk, relative to their peer groups. Peer groups are deemed to be the sectors as defined by the IMA and ABI. All rated funds get a crown rating, one crown being the lowest rating, and three crowns being the highest. No crowns means the fund has not been rated.

"; Yield ="

The income return on an investment. This refers to the interest or dividends received from a security and is usually expressed annually as a percentage based on the investment's cost, its current market value or its face value. Fund yields are an annual percentage measure of income (dividends and interest) earned by the fund's portfolio, net of the fund's expenses.

"; Volatility ="

A statistical measure of the dispersion of returns for a given security or market index. Volatility can either be measured by using the standard deviation or variance between returns from that same security or market index. Commonly, the higher the volatility, the riskier the security. In other words, volatility refers to the amount of uncertainty or risk about the size of changes in a security's value.

"; Alpha ="

Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. It represents the return of the fund when the benchmark is assumed to have a return of zero, and thus indicates the extra value that the manager's activities have contributed: if the Alpha is 5, the fund has outperformed its benchmark by 5% and the greater the Alpha, the greater the out performance.

"; Beta ="

Beta is a statistical estimate of a fund's volatility by comparison to that of its benchmark, i.e. how sensitive the fund is to movements in the section of the market that comprises the benchmark. A fund with a Beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark, so that with a Beta of 1.5, say, the fund will be expected to rise or fall 1.5 points for every 1 point of benchmark movement. If this Beta is an advantage in a rising market a 15% gain for every 10% rise in the benchmark obviously the converse is the case when falls are expected. This is when managers will look for Betas below 1, so that in a down market the fund will not perform as badly as its benchmark.

"; R_Squared ="

In finance, r-squared measures how well the Capital Asset Pricing Model predicts the actual performance of an investment or portfolio. The Capital Asset Pricing Model Equation expresses the idea that securities in the market are priced so that their expected return will compensate investors for their expected risk.

"; Five_year_performance ="

How an investment has grown [or fallen] over a set period of time ie: 5 years. Investors may compare the performance of funds with similar investment strategies to compare funds.

"; Information_ratio ="

The ratio of expected return to risk, as measured by standard deviation. Usually, this statistical technique is used to measure a manager's performance against a benchmark.The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding. This is particularly useful when comparing a group of funds with similar management styles and asset allocation policies.

"; Sharpe_ratio = "

This is a commonly-used measure which calculates the level of a fund's return over and above the return of a notional risk-free investment, such as cash or Government bonds. The difference in returns is then divided by the fund's standard deviation its volatility, or risk measurement. The resulting ratio is an indication of the amount of excess return generated per unit of risk. But clearly the higher the Sharpe ratio the better: as the ratio increases, so does the risk-adjusted performance. In effect, when analysing similar investments, the one with the highest Sharpe has achieved more return while taking on no more risk than its peer group or, conversely, has achieved a similar return with less risk.

"; Performance ="

Awaiting copy from Marketing.

"; TER = "

The Total Expense Ratio provides a picture of the total annual costs involved in running an investment fund. The TER consists principally of the manager's annual charge, but also includes additional costs for other services paid for by the fund.

"; seven_fifty = "

Awaiting copy from Marketing.

"; Acc_Inc = "

Accumulation units/shares
Dividends aren't paid out but instead are reinvested into the fund. This means that you don't have to buy new units/shares each time there is a dividend, and so you avoid any initial charge and stamp duty.

Typically, you might want to choose the Accumulation route for potentially better long term growth in the fund.

Income units/shares
Dividends are paid out to you once or twice a year.

Typically, you might consider income units/shares if you want an income from your investments or want to invest money elsewhere.

"; IMA_Sector2 = "

The Investment Management Association (IMA) is the trade body for the UK’s asset management industry. In order to identify funds with similar characteristics, the IMA categorises funds into over 30 sectors.

" trader_tariff='

You can buy or sell shares up to the value of \xa325,000 for a flat dealing commission of \xa37.50 with the Trader option.

Deals over \xa325,000 are charged at an additional \xa37.50 per \xa325,000 of value or part thereof.

' P120 = "

The Platinum 120 contains the funds our Advice team believes have the best long-term prospects and strong management.

"; Dividend_Re_investment = "

If you're investing to build the value of your capital you can choose to have dividends reinvested into the stock paying the dividend at a reduced commission fee.

"