An indicator used to represent the annual compound return of a certain period in order to calculate an annualized return for the investor net of taxes and commissions.

Selection of activities in which to invest, determined in order to obtain the optimal composition of a portfolio, in accordance with the desired, and previously established, risk-return profile.

This term refers to investments made indirectly through financial institutions (banks, investment firms, mutual funds and insurance companies) that are authorized by law.

This is calculated at the end of a day's trading on the Italian Stock Exchange and represents the value (expressed in euros) of the product of the number of shares traded and their official market price.

This is an objective reference parameter of mutual funds; it consists of an index, or a composition of financial indices, and helps investors understand the peculiar characteristics of certain types of investments, with particular reference to their riskiness. By comparing the yield of an investment with the performance of the benchmark over the sa [..]

The Italian Stock Exchange was formed through the privatization of the stock exchanges and, since 1998, it has been responsible for the organization, management and operation of the financial markets. On 1 October 2007, the Borsa Italiana Group merged with the London Stock Exchange Group, creating the leading market in Europe for trading in stocks, [..]

The call of commitments is the moment when, after the placement stage, the asset management company collects the sums due following a commitment made at the time the shares of the fund were subscribed. With regard to the contribution funds, the commitment call date coincides with the transfer of the assets.

This is the profit made from the sale of an asset at a higher price than its book value entered in the balance sheet. Capital gains may also be the result of the valuations made by the independent experts on based on market values and not an actual sale.

A loss of capital deriving (in the case of real estate funds) from a sale of real estate assets equal to the negative difference between the sale price and purchase price, purified of any accrued interest and additional charges.

These are the charges which apply to the fund, the subscriber or the asset management company established in the management regulations the various real estate funds.