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Unit-linked
Unitised insurance funds or unit-linked insurance funds are a form of collective investment offered life assurance policies. An insurance company's contract may offer a choice of unit-linked funds to invest in. Insurers that offer these contracts are mainly found in the UK and British Isles offshore financial centres. All types of life assurance and insurers pension plans, both single premium and regular premium policies offer these funds. They facilitate access to wide range and types of assets for different types of investors. The range of fund choice for investment has grown significantly in recent years with the increased trend to provide unit-linked alternatives to popular unit trust and OEIC funds styled as ''externally managed funds'' as opposed to the life assurance companies ''internally managed funds''. Typically the externally managed fund links have higher charges; this is tolerated as the expectation is for better returns. Nature of funds The funds are open-end ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Linked Insurance Plan
A unit-linked insurance plan is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan. History The first unit-linked insurance plan was launched by Unit Trust of India. With the Government of India opening up the insurance sector to foreign investors in 2001 and the subsequent issue of major guidelines for unit-linked insurance plans by the Insurance Regulatory and Development Authority, now the Insurance Regulatory and Development Authority of India, in 2005, several insurance companies forayed into the business leading to an overabundance of unit-linked insurance plan schemes being launched to serve the investment needs of those looking to invest in an investment cum insurance product. Working principle A unit-linked insurance plan is essentially a combination of insurance and an investment vehicle. A portion of the premium paid by the policyholder is utilized to provide insu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Assurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experimental me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collective Investment Scheme
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to: * hire professional investment managers, who may offer better returns and more adequate risk management; * benefit from economies of scale, i.e., lower transaction costs; * increase the asset diversification to reduce some unsystematic risk. It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. The regulatory term is undertaking for collective investment in transferable securities, or short collective invest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Authority
The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985. Its board was appointed by the HM Treasury, Treasury, although it operated independently of government. It was structured as a company limited by guarantee and was funded entirely by fees charged to the financial services industry. Due to perceived regulatory failure of the banks during the financial crisis of 2007–2008, the Cameron–Clegg coalition, UK government decided to restructure financial regulation and abolish the FSA. On 19 December 2012, the ''Financial Services Act 2012'' received royal assent, abolishing the FSA with effect from 1 April 2013. Its responsibilities were then split between two new agencies: the Financial Conduct Authority and the Prudential Regulation Authority (United Kingdom), Prudent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Isles
The British Isles are a group of islands in the North Atlantic Ocean off the north-western coast of continental Europe, consisting of the islands of Great Britain, Ireland, the Isle of Man, the Inner and Outer Hebrides, the Northern Isles, and over six thousand smaller islands."British Isles", ''Encyclopædia Britannica''. They have a total area of and a combined population of almost 72 million, and include two sovereign states, the Republic of Ireland (which covers roughly five-sixths of Ireland), and the United Kingdom of Great Britain and Northern Ireland. The Channel Islands, off the north coast of France, are normally taken to be part of the British Isles, even though they do not form part of the archipelago. The oldest rocks are 2.7 billion years old and are found in Ireland, Wales and the northwest of Scotland. During the Silurian period, the north-western regions collided with the south-east, which had been part of a separate continental landmass. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offshore Financial Centre
An offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy." "Offshore" does not refer to the location of the OFC, since many Financial Stability Forum– IMF OFCs, such as Delaware, South Dakota, Singapore, Luxembourg and Hong Kong, are located "onshore", but to the fact that the largest users of the OFC are non-resident, i.e. "offshore". The IMF lists OFCs as a third class of financial centre, with international financial centres (IFCs), and regional financial centres (RFCs); there is overlap (e.g. Singapore is an RFC and an OFC). The Caribbean, including the Cayman Islands, the British Virgin Islands and Bermuda, has several major OFCs, facilitating many billions of dollars worth of trade and investment globally. During April–June 2000, the Financial Stability Forum–International Monetary Fund produced the first l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Trust
A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities such as shares, bonds, gilts, and also properties, mortgage and cash equivalents. Those investing in the trust own "units" whose price is called the "net asset value" (NAV). The number of these units is not fixed and when more is invested in a unit trust (by investors opening accounts or adding to their accounts), more units are created. In addition to the UK, trusts are found in Fiji, Ireland, the Isle of Man, Guernsey, Jersey, New Zealand, Australia, Kenya, Uganda, Namibia, South Africa, Singapore, Malaysia and Zimbabwe. History The first unit trust was launched in the UK in 1931 by M&G under the inspiration of Ian Fairbairn. The rationale behind the launch was to emulate the comparative robu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open-ended Investment Company
An open-ended investment company (abbreviated to OEIC, pron. ) or investment company with variable capital (abbreviated to ICVC) is a type of open-ended collective investment formed as a corporation under the Open-Ended Investment Company Regulations 2001 in the United Kingdom. The terms "OEIC" and "ICVC" are used interchangeably with different investment managers favouring one over the other. In the UK OEICs are the preferred legal form of new open-ended investment over the older unit trust. As an open-ended company the manager must create shares when money is invested and redeem shares as requested by shareholders. As with other collective investments, ICVCs' main function is to make money for the shareholders. This is achieved via investing in different asset classes such as equities, fixed-interest investments, and property. By using economies of scale they facilitate access to professional investment management for small investors. OEICs were developed to be similar to Europe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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