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S

Sectors

*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.

Securities

Another name for investments such as *stocks*, *shares* and *bonds*.

Shares

The name given to a part of a company owned by an investor – the investor buys *shares* in the company. Is also used to describe the *OEIC* equivalent of a *unit*.

Short Report

Consumer friendly version of the long form annual report and accounts which focus on the fund's activities over a given period.  A version of the short report is sent out by the *fund manager* to all investors in a fund, with the longer version available on request.

Simplified Prospectus

Offered to all investors in *UCITS* funds (and in some cases *NURS* funds) before the point of purchasing *units*/*shares*.  This document formally sets out details of the fund including its investment policy, charges and *distribution* dates.  See also "*Key Features Documents*".

Single pricing

Some *OEICs* and *unit trusts* have a single price at which investors both buy and sell. The *initial charge* is shown separately and is charged in addition to the *unit*/*share* price.

Socially responsible investment funds

See "*Ethical funds*".

Stakeholder

A Government initiative which allows investors to access some investment products, including pensions, in a controlled risk, low cost way. 

Stocks and shares

Also known as *equities*, this is the name given to a part of a company owned by an investor.