Glossary

The most important terms from the world of funds - arranged alphabetically. Click one of the letters to display the relevant terms.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

OeKB Performance

Performance figures calculated for all funds using precisely defined calculation formulae from the OeKB (Austrian Control Bank). This formula corresponds to international standards and is based on the reinvestment of dividends.

OeVFA Training

Training programme for financial analysts and portfolio managers. The aim of the training programme organised by the banking academy is to enable staff employed by banks and financial intermediaries to analyse companies and equity values. The domestic diploma is recognised by EFFAS (Cover Association of European Analyst Companies) and graduates have the right to the CEFA (Certified European Financial Analyst) diploma which is recognised across Europe.

Offshore Funds

Offshore Funds are investment funds that are based abroad in order to take advantage of tax benefits. Offshore funds also enjoy the status of so-called "non-resident companies". As such they are not subject to currency or investment restrictions and nor are they subject to supervisory bodies.

One-Off Sum

A large sum invested as a one-off.

Open Funds

The number of fund equities in an open fund is basically unrestricted. That is, equities can be bought and sold at any time. In Austria, only open funds are permitted.

Option

An Option documents the right to buy (call) or sell (put) a certain basic value (security, index, currency, etc.) within a certain time period (duration) at a fixed price. American-style options can be exercised throughout their terms. European-style options are different, however, and can only be exercised at the end of the term (on the last trading date).

Ordinary Returns

Ordinary returns refer to interest rates and dividends that have flowed into the fund during the year (similar to: bond interest accrued).

Outperformance

If a fund or an equity performs better than the benchmark, this is known as outperformance.

Outstanding Term

The outstanding term of receivables, bonds or liabilities up to their final due date. Investment funds do not usually have an outstanding term.