Macro-economic environment refers to conditions that exist in the economy as a whole. This will generally include trends such as inflation, employment, spending, GDP (Gross Domestic Product) and fiscal policy. Conversely, a micro environment looks at smaller economic units such as individual households or consumers.
Market capitalisation is the total value of a company, calculated by multiplying the number of shares in issue by the current price of the shares.
Maturity refers to the date when the original investment in a bond is repaid. It can also mean the end of the life of a future or option.
A MEXID is a code that acts as a unique identifier for a fund unit or share. Other codes of a similar nature include SEDOL and ISIN.
The mid price is the price midway between a stock or fund's purchase price (offer price) and selling price (bid price).
This is the minimum amount of money accepted as a first investment in a fund. The minimum investment in Artemis funds depends on the 'class' being invested in, and can be found on an individual fund's factsheet. Investors can typically invest either a lump sum or a regular monthly amount - see also 'minimum monthly investment'.
‘Minimum monthly investment’
This is the minimum amount of money accepted as a regular monthly investment in a fund. The minimum investment in Artemis funds depends on the 'class' being invested in, and can be found on an individual fund's factsheet.
‘Monetary Policy Committee (MPC)’
The Monetary Policy Committee is a committee of the Bank of England. It sets interest rates in the UK. The committee sets an interest rate it judges will enable the inflation target to be met. For further information, visit http://www.bankofengland.co.uk/monetarypolicy/Pages/overview.aspx
Money laundering is the process of passing money gained illegally through the financial system to convert it to legitimate funds. Since 1994, when the then government introduced the Money Laundering Regulations, financial services firms have been required to have procedures in place to prevent money laundering. This involves the verification of client identity and address in an attempt to safeguard against and reduce the scope for financial crime.
Morningstar OBSR is an independent fund rating organisation. The Morningstar OBSR Analyst Rating (TM) for funds is described as "the summary expression of the forward-looking analysis of a fund. Morningstar OBSR Analyst Ratings are assigned globally on a five-tier scale running from Gold to Negative. The top three ratings, Gold, Silver, and Bronze, all indicate that a Morningstar OBSR analyst thinks highly of a fund; the difference between them corresponds to differences in the level of analyst conviction in a fund’s ability to outperform its benchmark and peers through time, within the context of the level of risk taken." (Source Morningstar)
A mutual fund, also known as a 'collective investment scheme', is an investment vehicle that is made up of a pool of funds collected from multiple investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by asset managers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.