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Salary Sacrifice
An amount of pre-tax salary that an employee decides to contribute to super or allocate to fringe benefits instead of taking it as cash.
Sector
A group of securities with common characteristics, such as resource sector companies or financial companies.
Security
(1) an financial asset such as shares or bonds or (2) an asset pledged to ensure the repayment of a loan.
Shares
Represents ownership in part of a company. When you buy a share in a company you become a joint owner of the business are entitled to a share of net profits, after priority stakeholders. Also known as an equity.
Stockbroker
A person who buys and sells securities on behalf of others in return for brokerage or commission.
Switching
The transfer of funds from one managed fund to another. Essentially this involves selling units in one fund and buying units in another without the unit holder actually receiving any cash.