Glossary - P

Permanent Account Number. With effect 1st Jan 2008, quoting of valid PAN is mandatory for all investments.

A collection of securities owned by an individual or an institution (such as a mutual fund) that may include stocks, bonds and money market securities.

If an investor buys a security for a price above its eventual value at maturity he has paid a premium for it.

The ratio of the market price of the share to earnings per share. This measure is used by investment experts to compare the relative merits of a number of securities.

A measure of the trading activity in a funds investment portfolio – how often securities are bought and sold by a fund.