GLOSSARY

Long-only

Having a long position in a stock means you own the security and have the right to collect dividends or interest the security pays and the right to sell it.  Long-only funds refer to funds that do not take ‘short’ positions on securities.  Short positions occur when you borrow a security from an existing holder […]

Liquidity

The ability to purchase or sell an asset without causing a substantial change in the asset’s price. Cash is the most liquid asset, because it can be sold for goods and services instantly with no loss of value.

LIC

A listed investment company whose function is to invest in assets, similar to a managed fund but with a company structure.