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H

Half-yearly report

Also known as the “interim report”. It will include details of the fund's investments and how it has performed with more general financial information relating to the fund (see also *Annual report*). Your *fund manager* will send it to you during the financial year for the fund(s) that you hold.  

Hedge funds

A fund, which uses an assortment of trading techniques and *instruments* to meet an objective of providing positive investment *returns* irrespective of the performance of stock markets.

Historic pricing

Where the price at which you buy or sell your *units*/*shares* is calculated at the last *valuation point* i.e. the *fund manager* uses the price set before they received your instructions.

Historic Yield

Reflects distributions declared over the past twelve months as a percentage of the mid-market unit price, as at the date shown.   It does not include any preliminary charge and investors may be subject to tax on their distributions.