A savings account for lower income individuals. An IDA is used for a specific purpose such as education, purchasing a first home, or starting a business. Savings are matched by private or public funds. |||The program provides economic literacy training that shows participants how to repair their credit, set up a budgeting and savings schedule, and teaches the basics of money management. IDAs help lower income individuals build assets and save for the future so they can break the cycle of poverty and achieve long-term self-sufficiency.
A measure of the intraday net asset value (NAV) of an investment, such as an exchange-traded fund (ETF), which gives an updated measure of the value of the investment based on its assets less its liabilities. An investment's NAV is usually calculated at the end of the trading day, but the indicative NAV measure gives a more real-time view of this value.Also referred to as "indicative value". |||Indicative NAV is not the price at which you can purchase the instrument; it is only used as a reference for the investment's underlying value. In many cases, the ETF will actually trade at a premium or discount to the NAV due to various factors, including supply and demand, and expectations.
A metric that assesses the marginal amount of investment capital necessary for an entity to generate the next unit of production. Overall, a higher ICOR value is not preferred because it indicates that the entity's production is inefficient. The measure is used predominantly in determining a country's level of production efficiency.ICOR is calculated as: |||For example, suppose that Country X has an ICOR of 10. This implies that $10 worth of capital investment is necessary to generate $1 of extra production. Furthermore, if country X's ICOR was 12 last year, this implies that Country X has become more efficient in its use of capital.Some critics of ICOR have suggested that its uses are restricted as there is a limit to how efficient countries can become as their processes become increasingly advanced. For example, a developing country can theoretically increase its GDP by a greater margin with a set amount of resources than its developed counterpart can. This is because the developed country is already operating with the highest level of technology and infrastructure. Any further improvements would have to come from more costly research and development, whereas the developing country can implement existing technology to improve its situation.
A system that gathers and compiles the different estimates made by stock analysts on the future earnings for the majority of U.S. publicly traded companies. |||The IBES is a central location whereby investors are able to research the different analyst estimates for any given stock without necessarily searching for each individual analyst.
The Institute of Petroleum (IP), based in the United Kingdom, was a professional organization dedicated to those working in and studying the oil and gas industry. In 2003 the IP merged with the Institute of Energy to form the Energy Institute. The focus of the Energy Institute includes oil and gas, as well as nuclear and alternative forms of energy. |||The formation of the Energy Institute created the leading chartered membership body in the world for those people in the energy field. The Energy Institute is based in London, England, and as of 2010 has over 14,000 members in over 100 countries.
An organization committed to educating financial professionals about specific issues relating to divorce. The Institute for Divorce Financial Analysts certifies members who complete its modular study program, which highlights divorce tax law and asset distribution. People going through a divorce can contact the IDFA, which will help them find a suitable agent to help them through the divorce proceedings. |||The IDFA trains certified divorce financial analysts, or CDFAs, who help support the divorce process. These analysts are schooled in the various tax consequences that result from divorce settlements and can help with equitable asset distribution of the divorcing couple's property and estate. The CDFA can also act as a consultant for a client's lawyer or serve as a mediator during the settlement proceedings.
An annuity investment that guarantees a real rate of return at or above inflation. The real rate of return is the nominal return, less the inflation rate, thus protecting annuitants and beneficiary investors from inflation. |||Inflation-protected annuities are becoming more popular with annuity investors who are worried about the risk of inflation decreasing the purchasing power of their money as they age.
A company-classification system for stocks developed by Dow Jones and FTSE. The Industry Classification Benchmark (ICB) is a system that classifies both domestic and international stocks. Every company has a place in the ICB, which has a four-tier, hierarchical industry-classification structure. The ICB uses a system of 10 industries, partitioned into 18 supersectors, which are further divided into 39 sectors, which in turn contain 104 subsectors. |||The principal aim of the ICB is to categorize individual companies into subsectors based primarily on each company's major source of revenue. The ICB is adopted by stock exchanges representing over 65% of the world's market capitalization.The ICB competes with the Global Industry Classification Standard (GICS) for equities, which was developed jointly by Morgan Stanley Capital International (MSCI) and Standard & Poor's. In practice, most of the same sector and industry designations exist in both standards.
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