Glossary Account Active investment style All-in fee American style Annual management fee Arbitrage Ask price Asset allocation At best At-the-money Average annualised return Benchmark Benchmark index Bid price Bid-offer spread Cash settlement Cover ratio Crash Designated Sponsor Determination date Dividend yield Dividends Dogs of the Dow European style Exercise price Expiry date Fund of funds Gearing Growth stocks GTC-Order Hedge Holder iNAV Index-Sponsor In-the-money Issuer Leverage Limit order Limit Order Liquidity Market maker Maturity Mutual fund (also known as Unit trusts) Net asset value (NAV) Net worth Note Notional value Offer price Offering circular Off-exchange trading Out-of-the-money Outperformance Certificates Outperformance index Par Passive management Physical settlement Portfolio Portfolio manager Premium Price momentum Prime Standard Quantitatively determined Quanto option Quotation Re-balanced Redemption Redemption amount Reinvestment Reverse convertible Rights issue Designated Sponsor Secondary market Spot price Spread Stock exchange Stock picking Stop order Strike price (or Exercise price) Style index Subscription period Termsheet Tick Time decay Tracking Error Transparency Underlying asset Unit trusts (also known as Mutual funds) Volatility Voting right Warrant Yield Zero coupon bond A record of financial transactions, as in a bank account.