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Pension
A regular income stream paid to an individual, either by the Government (such as an Age Pension) or from a superannuation benefit.
Pooled Investment
An investment where a number of individuals place their money with a professional manager who manages the total fund on their behalf. Also known as a unit trust or managed investment.
Portfolio
The full range of an investor's, or managed fund's, investment holdings.
Preservation
A requirement to retain superannuation benefits within the superannuation environment until a condition of release has been met. Under current laws most benefits are compulsorily preserved until a person has retired or is at least 55.
Product Disclosure Statement
A legal document lodged with the Australian Securities and Investments Commission which details how the fund operates, outlining the nature of the fund(s), how to invest and what returns to expect from the investment.
Profit
Occurs when an investment appreciates in value and is sold, or realised. Also known as a realised gain.
Property Funds
In a managed investment the term property generally refers to investments in property securities - property trusts listed on the stock exchange. Funds which invest in property securities allow diversification by investing across a range of different property sectors such as commercial, office, industrial, hotel and retail properties. A property securities fund generally invests in property trusts that are listed on the share market, or in property-related companies.