Lexicon
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Standard & Poors (S&P)
Financial ratings agency that issues ratings on companies taking into account their financial environment as well as events that affect strategy, shareholdings and managers. The rating is reviewed each year and each time an event occurs that is deemed to be significant.
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Subordinated bond
A subordinated bond is a bond which ranks below other debt for repayment should the issuer be declared bankrupt.
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Subscription
Subscription is the placing of an order to buy a UCITS with an authorised intermediary. The terms and conditions of subscription appear in the full prospectus.
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Sustainable development (Definition given by the Brundtland report of the UN)
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It is a positive approach by all participants in political, economic, social and community life and members of the public that rests in the application of good governance practices in the three following key areas: - Economical (structured use of natural resources – water, forests, raw materials – hydrocarbons and minerals, fairness of commercial North-South relationships, etc.), - Environment (maintenance of major areas of balance – climate, biodiversity, integration of environmental costs, prevention of risks, etc.) and – Social (fight against poverty, respect for different cultures, human rights, employee rights and the right to work, etc.)
