The total percentage gain or loss on an investment over a period without converting it into a yearly rate.

A regulated consent-based system in India that helps individuals securely share financial information between participating institutions.

Income tax paid in instalments during the financial year when the estimated tax liability crosses the applicable threshold.

The return generated by an investment above or below the return expected for its level of market risk. Positive alpha suggests risk-adjusted outperformance.

A return converted into an equivalent yearly rate so investments held for different periods can be compared.

A financial product that provides regular payments for a fixed period or for life, usually in exchange for a lump-sum investment.

The practice of earning from temporary price differences in the same or related assets across markets.

A mutual fund that seeks returns mainly from price differences between cash and derivatives markets.

The lowest price at which a seller is willing to sell a security.

Anything of economic value owned by a person or organisation, including cash, property, shares, bonds and intellectual property.

The division of investments across equity, debt, gold, real estate and cash according to goals, time horizon and risk appetite.

A group of investments with similar characteristics, such as equities, fixed income, commodities, real estate or cash.

A company that manages mutual funds and other investment products on behalf of investors.

The total market value of assets managed by a fund house, portfolio manager or financial institution.

A financial statement showing a company’s assets, liabilities and shareholders’ equity at a specific date.

A hybrid mutual fund that dynamically changes its equity and debt exposure using a stated asset-allocation model.

An index representing major liquid banking stocks listed on the National Stock Exchange of India.

One-hundredth of one percentage point. A movement from 7.00% to 7.25% equals 25 basis points.

A prolonged period of declining asset prices, commonly associated with a fall of 20% or more from recent highs.

A reference index or standard used to compare the performance of an investment or portfolio.

A measure of how sensitive an investment is to movements in the broader market. A beta above 1 indicates higher market sensitivity.

The highest price a buyer is willing to pay for a security.

A share of a large, established and financially strong company with a recognised market position.

A debt instrument through which an investor lends money to a government, company or institution in return for interest and principal repayment.