MoU

Memorandum of Understanding, or a document outlining the intentions and expectations shared between two or more parties.

Autonomous mobility

Autonomous mobility is the development of transportation systems that operate without direct human control. Read more about autonomous mobility here.

Net interest rate margin

The difference between the interest income generated and the amount of interest paid out to lenders.

Financial windfall

A financial windfall is the reception of a large amount of money, sometimes unexpectedly so.

Treasury notes represent debt issued by the US government that has a maturity less than a Treasury bond but longer than a Treasury bill – in other words more than one year but less than 20 years. Like Treasury bonds, Treasury notes pay a fixed annual interest payment (coupon) in six-monthly instalments and repay a […]

Treasury bonds

Treasury bonds are US government debt that is issued with a maturity of 20 years or more (typically 20 year bonds and 30-year bonds). They pay interest every six months at a fixed annual rate. At maturity, investors are repaid a fixed amount.

Interest rate

The interest rate is the amount a lender charges a borrower and is a percentage of the principal – the amount loaned An interest rate can also apply to the amount earned at a bank or credit union from a savings account or certificate of deposit (CD). Annual percentage yield (APY) refers to the interest earned on these deposit […]

Book Value

Book value is the sum of the amounts of all the line items in the shareholders’ equity section on a company’s balance sheet. You can also calculate book value by subtracting a business’s total liabilities from its total assets.

Asset Light Business Model

Model where the company focuses on reducing the amount of capital that is invested in assets.

TVPI

TVPI is an acronym for Total Value to Paid In capital. It represents the ratio of the current value of remaining investments within a fund, plus the total value of all distributions to date, relative to the total amount of capital paid into the fund to date.

LDI

LDI is an acronym of Liability Driven Investing. The idea is that pension schemes use LDI to match their investments with their long-term pension liabilities. Many went about that by buying leveraged portfolios of government bonds. Famously, in September 2023, the Liz Truss/Kwasi Kwarteng budget crashed the UK government bond market and LDI magnified the […]

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Glossary

MoU