A traditional investment approach where fund managers actively build and change a portfolio of assets (e.g. stocks and shares) in order to take advantage of the best opportunities in the stock market.
A charge made each year by managers of unit trusts, OEICs or investment trusts to cover the expenses associated with running the fund. Although it is expressed in annual percentage figures it is usually split into 12 monthly amounts and taken from the fund monthly.
The percentage split of an investment portfolio among different asset classes (shares, bonds, property, cash etc).