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| Theta |
The sensitivity of a warrant's value to the passage of time. Theta, (% week) shows the theoretical fall in warrant price in 7 days with all other factors remaining the same.
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| Time decay |
A term used to describe how the value of a warrant erodes or reduces with the passage of time. Time decay is quantified by theta.
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| Time value |
The portion of a warrant's price that is not accounted for by the intrinsic value.
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| Tracker fund |
The fund that manages the capital invested in a specific tracker.
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| Tracker or Exchange Traded Fund |
Trackers are open-ended mutual funds that seek to match the returns of a market index. The funds usually invest in the securities that make up the corresponding index. When you invest in index funds, you are essentially seeking to "buy the market" and not trying to outperform it. |
| Tracker share |
A unit in a tracker fund. This is also the minimum trading unit of a tracker.
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| Tracking error |
Indicator measuring the volatility of the return on a portfolio relative to the return on the underlying index. The unit of measurement is the standard deviation over a period of time, usually 60 days. In a passively managed portfolio, the lower the tracking error, the better the replication of the index.
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| Transferable securities |
Securities issued by public or private legal entities which are transferable by book entry or delivery and which confer identical rights per category and give direct or indirect access to a portion of the issuing legal entity's capital or a general right against its assets. Units in unit trusts and securitisation funds are also transferable securities (art. L211-2, Monetary and Financial Code).
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