A share that pays no, or "zero", dividends. Instead, it is bought at one price and redeemed later for a higher price agreed in advance.

A bond that does not pay interest and matures at face value. It provides an investment return normally by being bought at a discounted price.

Abbreviation for "year to date". Usually means the period starting 1 January of the current year and ending today.

Yield to maturity is the rate of return expected if a bond or other dated investment is held for the full term of the contract, or until the maturity date.

Rate of return on an investment in percentage terms, taking into account annual income and any change in capital value. Also the dividend payable on a share expressed as a percentage of the market price.

A type of investment plan in which extra amounts may be added to the main benefit (known as the sum assured) to reflect profits earned during the course of the contract. Regular or "reversionary" bonuses may be added, usually each year, and once declared are guaranteed. A final or "terminal" bonus may be added when the policy becomes payable. With-profit funds are typically invested in a mixture of equities, property and fixed income investments.