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We have compiled a comprehensive A-Z glossary of share dealing and investment terms.


Undertakings for Collective Investment in Transferable Securities. This is a European Directive governing the pan-european promotion and structure of certain funds.

Unit Trust
A unit trust offers investors a way to diversify their investments by pooling their resources with those of other investors. A fund manager will then invest the money in a particular area, for example small emerging companies. Units are issued or cancelled depending on whether investors want to add or reduce their funds invested. The units will rise or fall in value, dependent on how the fund performs.

Unsubordinated Debt

A loan or security that ranks above other loans or securities with regard to claims on assets or earnings. Also known as a senior security.

In the case of default, creditors with unsubordinated debt would get paid out in full before the junior debt holders. Therefore, unsubordinated debt is less risky than subordinated debt.

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Aberdeen Ediston