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Investments Dictionary

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Investment bankers who help companies issue their securities to the public.
Underwriting, Underwriting Syndicate
Underwriters (investment bankers) purchase securities from the issuing company and resell them. Usually a syndicate of investment bankers is organized behind a lead firm.
Unemployment Rate
The ratio of the number of people classified as unemployed to the total labor force.
Unfunded Actuarial Liability
The difference between the actuarial accrued liability and valuation of assets. Sometimes referred to as “unfunded accrued liability.”
Unit Investment Trust
Money invested in a portfolio whose composition is fixed for the life of the fund. Shares in a unit trust are called redeemable trust certificates, and they are sold at a premium above net asset value.
Universal Life Policy
An insurance policy that allows for a varying death benefit and premium level over the term of the policy, with an interest rate on the cash value that changes with market interest rates.
The measure of the welfare or satisfaction of an investor.
Utility Value
The welfare a given investor assigns to an investment with a particular return and risk.

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