A debt instrument such as a bond, debenture or gilt-edged bond that investors use to loan money to a company in exchange for interest payments. A fixed-interest security pays a specified rate of interest that does not change over the life of the instrument. The face value is returned when the security matures. |||Fixed-interest securities are less risky than equities, since in the event that a company is liquidated, bondholders are repaid before shareholders. However, bondholders are considered unsecured creditors and may not get any or all of their principal back. Fixed-interest securities are also subject to interest-rate risk. Since their interest rate is fixed, these securities will become less valuable as rates go up in a rising-interest-rate environment. If interest rates fall, however, the fixed-interest security becomes more valuable.
A condition in which an investor has more long positions than short positions in a given asset, market, portfolio or trading strategy. Investors who are net long will benefit when the price of the asset increases. Taobiz explains Net Long Many mutual funds are restricted from short selling, which means the funds are usually net long. In fact, most individual investors do not hold large short positions, making the net long portfolio a common and usually expected investing situation. A position that is net long position is the opposite of a position that is net short.
Created by Morningstar, a fixed-income style box is designed to visually represent the investment characteristics of bonds and bond mutual funds. This is a valuable tool for investors to use to determine the risk-return structures of their bonds/ bond portfolios and/or how these investments fit into their investing criteria.Also referred to as a "bond style box". |||A fixed-income style box is made up of nine squares, with the investment features of bonds/bond mutual funds presented along its vertical and horizontal axes.For bonds and bond funds, the horizontal axis is divided into three maturity categories: short term, intermediate term and long term. The vertical axis is divided into three credit-quality categories: high (AAA - AA), medium (A - BBB) and low (BB - C). A fixed-income investor looking for safety would confine his or her bond or bond fund investments to the investment grade credit quality categories identified as high and medium, combined with the short- to intermediate-term maturity categories. For a risk taker, the category combination of low credit quality and long-term maturity will provide a high-risk, high-yield return.
Security that is tradeable but originally posed no cost to the seller. For example, a renounceable right being sold by the original owner to another investor is considered nil-paid. A right is an opportunity to purchase more shares, usually at discount, given to shareholders by a corporation. The shareholders receive these rights at no cost, and if the rights are renounceable, the shareholders can choose to sell them on the market. Taobiz explains Nil-Paid Though the word "nil-paid" may suggest that nil-paid rights give shareholders the right to acquire new shares for no cost, this is not the case. Nil-paid rights are only the right to acquire more shares at the current share price or a discount. The corporation issuing the rights to its shareholders does not receive payment for the rights, but if the shareholders decide to exercise the rights, they must pay for the securities they are given the right to buy.
Short for Japan's Nikkei 225 Stock Average, the leading and most-respected index of Japanese stocks. It is a price-weighted index comprised of Japan's top 225 blue-chip companies on the Tokyo Stock Exchange. The Nikkei is equivalent to the Dow Jones Industrial Average Index in the U.S. In fact, it was called the Nikkei Dow Jones Stock Average from 1975 to 1985. Taobiz explains Nikkei The index has been calculated since Sept 1950 (retroactively since to May 1949). A few years after the country's leading business newspaper the Nihon Keizai Shimbun (Nikkei or Japan Economic Daily) began to commission the calculations, it was renamed.
An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. Unlike a variable-income security, where payments change based on some underlying measure such as short-term interest rates, the payments of a fixed-income security are known in advance. |||An example of a fixed-income security would be a 5% fixed-rate government bond where a $1,000 investment would result in an annual $50 payment until maturity when the investor would receive the $1,000 back. Generally, these types of assets offer a lower return on investment because they guarantee income.
The securities market in New Zealand. The New Zealand Stock Exchange (NZX), based in Wellington, consists of the New Zealand Alternative Market, the New Zealand Stock Market and the New Zealand Debt Market. Together their purpose is to offer secure, liquid investments and opportunities to grow capital to individuals and companies alike. Taobiz explains New Zealand Stock Exchange (NZE) .NZ The NZX originated in New Zealand's 1870s Gold Rush, when the country's four biggest gold mines served as financial centers and each had its own exchange. It wasn't until 1974 that these entities merged to form the contemporary New Zealand Stock Exchange. In 2003, the NZX officially became a limited liability company, with its new name being the New Zealand Exchange Limited.
Classes of assets that are not essential to the ongoing operations of a business, but may still generate income or provide a return on investment. These assets will be listed on the balance sheet along with operating assets, and may or may not be broken out separately. Non-operating assets are held by companies for several reasons. It could be an asset related to a closed portion of the business, and might be sold in the future. Non-operating assets can also be used to diversify operational risks (for example by owning some real estate or patents) or simply used as a cash investment. Also known as "redundant assets". Taobiz explains Non-Operating Asset Non-operating assets are often valued separately than operating assets when evaluating a company or its stock. Their value is counted towards the total worth of the company, but may be excluded from financial models that estimate the future profit earning potential of the core business segments and the assets used to generate core revenues as these aren't considered to be assets that will generate future earnings and revenue.
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