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SGR The Italian acronym SGR stands for Società di Gestione del Risparmio (asset management company), a company authorised by the Financial Services Act to carry out collective management of financial products (mutual funds). The assets of the company are separate from those of the fund. Italian asset management companies are entered in a special register held by the Banca d’Italia. Share Certificate representing a shareholder’s stake in a public limited company, and incorporating the rights of the shareholder. A company can issue various categories of shares each having different rights. Shares may be in the name of the holder, or bearer. Share Capital Amount paid by the shareholders in a company for shares in order to form the asset base essential to begin and support the company’s operation. The share capital may be increased or decreased only through an extraordinary general meeting of shareholders, which has to give detailed information on the terms of the variation (amount of capital increase and how the new shares are to be underwritten, or the conditions of the reduction, etc) . Share Value The individual asset value of a share is obtained by dividing the value of the fund by the number of shares in circulation. This value is the indicator that is taken into consideration in working out the asset amount of the fund held by the individual depositor/investor. Shareholders' Equity Capital invested by the shareholders of a company increased by the reserves. SIM (Società di Intermediazione Mobiliare ) Brokerage Company. A public limited company, different from a bank, authorised to provide investment services, and having its registered offices and management in Italy. Single initial payment It is possible to subscribe to a fund by means of a single initial payment making the investment in a one-off payment complying with the minimum entrance threshold which varies from fund to fund. Stakeholder All the categories of individuals and bodies that may influence, be influenced by or have an interest in the business of a company, such as employees, shareholders, suppliers, NGOs and local communities. Stock Exchange Volume Total number of shares traded daily on the markets regulated by the Italian Stock Exchange (Borsa Italia SpA). Stock Option Assigning of the shares of a company based on options, exercisable on a certain date, usually assigned (free or otherwise) to employees. Stock Split Splitting of a company’s share capital with the consequent replacement by the company of its shares with others of an inferior nominal value, without increasing the capital. Each shareholder will have, at no cost, a greater number of new shares, each of a nominal value less than the old shares. Sustainable Development Indicates the possibility of guaranteeing industrial, infrastructure, economic etc development of an area, while respecting its environmental characteristics. Sustainable development assumes growth in which the exploitation of resources, investment trend, type of economic development and institutional change are reciprocally harmonious and able to preserve the physical environment and guarantee basics such as clean air, drinkable water, fertile land, diversified ecological systems and climatic stability. |
