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Tools, guides, and events to sharpen your financial intelligence — whether you're starting out or scaling up.
Knowledge is the first instrument
of every investor.
Knowledge is the first investment.
Financial Glossary
The Language of Investing
Yield to Maturity (YTM)
The total return anticipated on a bond if held until it matures, expressed as an annual rate.
Duration
A measure of a bond's sensitivity to interest rate changes, expressed in years. Longer duration = greater rate sensitivity.
Net Asset Value (NAV)
The per-unit price of a mutual fund, calculated as total fund assets minus liabilities, divided by units outstanding.
Coupon Rate
The annual interest payment made on a bond as a percentage of the bond's face value.
Basis Points (bps)
A unit of measure equal to 1/100th of 1%. 100 basis points = 1%. Used to describe interest rate changes.
Portfolio Rebalancing
The process of realigning portfolio weights to maintain a desired asset allocation as market values shift over time.
Liquidity
How quickly and easily an asset can be converted to cash without significantly affecting its market price.
Sovereign Risk
The risk that a government may default on its debt obligations. Nigeria's sovereign debt carries a sovereign risk rating from Fitch, Moody's, and S&P.