Glossary

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Absolute return
An investment strategy that aims to produce a positive return each year, regardless of what happens in the financial markets during all market conditions.
Accounting date
The date on which an accounting period of a fund or investment trust ends.
Accumulation share
Shares that reinvest income made by a fund or investment trust into the price of the share, increasing the value of your holding.
Active management
A style of fund management where the fund manager tries to provide better returns than a stock market index or benchmark. The fund manager will actively choose investments that they think will provide the highest returns.
Additional Information Document (AID)
Provides additional useful information you should be aware of before investing. To be used in conjunction with the relevant UK Key Investor Information Documents.
AGM
An abbreviation for Annual General Meeting, a meeting of the shareholders of a company, held once every financial year, at which the annual reports is presented.
Alpha
A measure of a fund manager's outperformance against a benchmark.
American depositary receipt (ADR)
An investment that provides exposure to company shares.
Annual management charge
A fee which is paid to Henderson for the running of the funds on a day to day basis.
Annuity
An amount paid out every year to someone. The money usually comes from the final value of a personal pension fund.
Asset class
The different types of investments available to investors and which our funds may invest in including, for example, shares, bonds, cash, or property.
Audit committee
A committee made up of usually outside, or non-executive, directors who review projects, financial reporting, risk management, audits and evaluations of a company and its directors. Each of the investment trusts has an Audit Committee responsible for looking at the trust accounts.
Authorised corporate director (ACD)
The person who is responsible for the day to day operation of an open-ended investment company.