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Underperformance

An investment that does not grow as fast as other similar investments.

Unit trust

A collective trust that pools members’ cash and invests it on their behalf. It is the role of the unit trust manager to make sure that the money is invested properly and delivers the best possible return. Unlike investment trusts and Oeics (which issue shares), unit trusts issue units. They are open-ended funds, which means units are issued and cancelled depending on demand.

Unlisted investments

These are investments in companies which are not quoted on any stock exchange.

Unsecured loans

Also known as personal loans, these are not secured on assets (like your house or your car). Unsecured loan rates tend to be higher than those on secured loans. Unsecured loan rates are usually fixed at the outset, so they don’t change.

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