Website Glossary

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N

National Savings and Investment (NS&I) Products

This range of products was created to provide a secure means of saving backed by the Government, whilst providing the Exchequer with a source of funding. Products available through NS&I include *premium bonds* and *cash ISAs*.

Net income

*Dividends* and *interest* paid out to you after *income tax* has been deducted.

Non-investment grade bonds

These *bonds* have a high risk of the company that issued the bonds being unable to repay them. They are lower rated, with a poor *credit rating* often as low as D. They are sometimes referred to as ‘*junk bonds*’.

Non-UCITS Retail Schemes (NURS)

*Unit trusts* and *OEICs* which are based in the UK and sold only to UK investors.  Such funds differ from *UCITS* funds in that they cannot be sold into Europe and they have different investment restrictions.  The fund documentation also differs and at the point of purchase you may be given either a *Key Features Document* or a *Simplified Prospectus*.