Association of International Life Offices
Representing the cross-border life industry
Guides Links Glossary Media News Advisers

Glossary

Not sure about a name or phrase used in our documentation or website? Or perhaps you’ve come across some financial terminology elsewhere that you’re not familiar with? Find out its meaning in our glossary below and if there is a word not in there you think needs adding please do contact us.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Total expense ratio

The total expense ratio (TER), also known as the 'expense ratio' is a way to capture the annual costs associated with running a fund such as a unit trust.

Treasuries

A government bond is an IOU issued by the central bank, which it guarantees to repay at a given date. In the US, these are referred to as Treasuries.

Trust

A legal arrangement whereby the creator of the trust transfers property to another person(s) (the trustee(s)) to hold for the benefit of another person(s) – the beneficiary(ies).