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Fifteen terms used across KCP's DSE, fund and model-book surfaces; defined once, shown in English and Kiswahili, and bounded by what each term cannot establish.

15 governed terms

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DSEI

DSE All Share Index

DSEIFahirisi ya Hisa Zote ya DSE

English

The DSEI is the market-capitalisation-weighted index of all shares listed on the Dar es Salaam Stock Exchange, including cross-listed companies.

Calculation or method: Weighted by each constituent's free-float-adjusted market value under the DSE index method.
Why it matters: It is the broad headline lens for the whole listed market.
What it does not mean: A rise does not mean every share rose or that a portfolio earned the same return.

Kiswahili

DSEI ni fahirisi inayopimwa kwa thamani ya soko ya hisa zote zilizoorodheshwa kwenye Soko la Hisa la Dar es Salaam, ikijumuisha kampuni zilizoorodheshwa pia katika masoko mengine.

Hesabu au mbinu: Hupimwa kwa thamani ya soko inayoweza kuuzwa ya kila kampuni kwa mujibu wa mbinu ya fahirisi ya DSE.
Kwa nini ni muhimu: Ni kipimo kikuu cha jumla cha soko lote lililoorodheshwa.
Kisichomaanishwa: Kupanda kwake hakumaanishi kila hisa ilipanda au jalada lilipata mapato sawa.

TSI

Tanzania Share Index

TSIFahirisi ya Hisa za Tanzania

English

The TSI is the market-capitalisation-weighted index of domestic Tanzanian companies listed on the DSE.

Calculation or method: Uses the domestic-company basket defined by the DSE.
Why it matters: It separates the domestic-company move from the wider all-share headline.
What it does not mean: It is not a complete measure of the Tanzanian economy or every investor's experience.

Kiswahili

TSI ni fahirisi inayopimwa kwa thamani ya soko ya kampuni za Tanzania zilizoorodheshwa kwenye DSE.

Hesabu au mbinu: Hutumia kundi la kampuni za ndani lililofafanuliwa na DSE.
Kwa nini ni muhimu: Hutenganisha mabadiliko ya kampuni za ndani na fahirisi pana ya hisa zote.
Kisichomaanishwa: Si kipimo kamili cha uchumi wa Tanzania wala uzoefu wa kila mwekezaji.

Turnover

Equity turnover

Thamani ya miamalaThamani ya hisa zilizouzwa

English

Turnover is the total shilling value of shares traded during a stated session or period.

Calculation or method: Sum of recorded traded value across the included transactions.
Why it matters: It shows how much activity occurred, especially when compared with like-for-like sessions.
What it does not mean: High turnover is not the same as broad participation, new money entering the market or easy execution at the quoted price.

Kiswahili

Thamani ya miamala ni jumla ya shilingi za hisa zilizouzwa katika kikao au kipindi kilichotajwa.

Hesabu au mbinu: Jumla ya thamani iliyorekodiwa kwa miamala yote iliyojumuishwa.
Kwa nini ni muhimu: Huonyesha ukubwa wa shughuli iliyotokea, hasa ikilinganishwa na vikao vinavyofanana.
Kisichomaanishwa: Thamani kubwa ya miamala si sawa na ushiriki mpana, fedha mpya kuingia sokoni au uwezo wa kufanya muamala kwa urahisi kwa bei iliyoonyeshwa.

Directional breadth

Share of moving counters that advanced

Upana wa mwelekeoSehemu ya hisa zilizobadilika na kupanda

English

Directional breadth is the share of counters with a price move that advanced rather than declined.

Calculation or method: Advancers ÷ (advancers + decliners). Unchanged and non-trading counters are excluded.
Why it matters: It tests whether the direction was shared across the names that actually moved.
What it does not mean: It is not the share of all listed counters, and it says nothing about how much money traded in each name.

Kiswahili

Upana wa mwelekeo ni sehemu ya hisa zilizobadilika bei ambazo zilipanda badala ya kushuka.

Hesabu au mbinu: Zilizopanda ÷ (zilizopanda + zilizoshuka). Zisizobadilika na zisizouzwa hazihesabiwi.
Kwa nini ni muhimu: Hupima kama mwelekeo ulishirikishwa na hisa zilizobadilika kweli.
Kisichomaanishwa: Si sehemu ya hisa zote zilizoorodheshwa, na haisemi kiasi cha fedha kilichouzwa katika kila hisa.

Turnover concentration

Share of turnover in the leading counter

Mkusanyiko wa thamani ya miamalaSehemu ya miamala katika hisa iliyoongoza

English

Turnover concentration is the share of total traded value accounted for by one counter or a stated group of counters.

Calculation or method: Selected counter turnover ÷ total session turnover × 100.
Why it matters: It reveals whether a large market total was distributed or dominated by a small number of names.
What it does not mean: A high share does not establish unusual demand, fair value or repeatable liquidity.

Kiswahili

Mkusanyiko wa thamani ya miamala ni sehemu ya jumla ya thamani iliyouzwa iliyochangiwa na hisa moja au kundi lililotajwa.

Hesabu au mbinu: Thamani ya miamala ya hisa iliyochaguliwa ÷ jumla ya miamala ya kikao × 100.
Kwa nini ni muhimu: Huonyesha kama jumla kubwa ya soko ilisambaa au ilitawaliwa na hisa chache.
Kisichomaanishwa: Sehemu kubwa haithibitishi mahitaji yasiyo ya kawaida, thamani inayofaa au ukwasi unaoweza kujirudia.

No trade

No recorded turnover in the session

Hakuna muamalaHakuna thamani ya muamala iliyorekodiwa katika kikao

English

No trade means the counter recorded zero turnover in the stated session.

Calculation or method: Session turnover = 0.
Why it matters: It keeps a carried close separate from a price formed by a transaction that day.
What it does not mean: It does not prove there were no orders, no interest or that the prior close was executable.

Kiswahili

Hakuna muamala maana yake hisa ilirekodi thamani sifuri ya miamala katika kikao kilichotajwa.

Hesabu au mbinu: Thamani ya miamala ya kikao = 0.
Kwa nini ni muhimu: Hutenganisha bei iliyobebwa kutoka kikao cha awali na bei iliyoundwa na muamala wa siku hiyo.
Kisichomaanishwa: Haithibitishi kwamba hakukuwa na oda, hamu ya soko au kwamba bei ya awali ingeweza kutekelezwa.

Market capitalisation

Market value of issued shares

Thamani ya sokoThamani ya soko ya hisa zilizotolewa

English

Market capitalisation is the quoted share price multiplied by the relevant number of issued shares.

Calculation or method: Share price × shares outstanding, using the stated share-count basis.
Why it matters: It describes quoted equity scale and is used in many index weights.
What it does not mean: It is not cash in the company, enterprise value or a price at which the whole company could necessarily be sold.

Kiswahili

Thamani ya soko ni bei ya hisa iliyotangazwa ikizidishwa kwa idadi husika ya hisa zilizotolewa.

Hesabu au mbinu: Bei ya hisa × hisa zilizopo, kwa kutumia msingi wa idadi ya hisa uliotajwa.
Kwa nini ni muhimu: Huonyesha ukubwa wa thamani ya hisa sokoni na hutumika kupima uzito katika fahirisi nyingi.
Kisichomaanishwa: Si fedha iliyopo kwenye kampuni, thamani ya biashara nzima au bei ambayo kampuni yote ingeuzwa kwa lazima.

Liquidity

Ability to trade without excessive delay or price impact

Ukwasi wa sokoUwezo wa kufanya muamala bila kuchelewa sana au kubadilisha bei kupita kiasi

English

Liquidity describes how readily a security can be traded in meaningful size without excessive delay, cost or price impact.

Calculation or method: No single statistic proves liquidity; turnover, trading frequency, order size and spreads describe different parts of it.
Why it matters: It affects whether a displayed price can be reached for the size and timing a reader has in mind.
What it does not mean: One busy session or one quoted close does not establish normal liquidity.

Kiswahili

Ukwasi wa soko unaeleza jinsi dhamana inavyoweza kuuzwa kwa kiasi chenye maana bila kuchelewa, gharama au kubadilisha bei kupita kiasi.

Hesabu au mbinu: Hakuna kipimo kimoja kinachothibitisha ukwasi; thamani ya miamala, marudio ya biashara, ukubwa wa oda na tofauti ya bei huonyesha sehemu tofauti.
Kwa nini ni muhimu: Huathiri kama bei iliyoonyeshwa inaweza kufikiwa kwa ukubwa na muda unaokusudiwa.
Kisichomaanishwa: Kikao kimoja chenye shughuli nyingi au bei moja ya kufunga haithibitishi ukwasi wa kawaida.

Yield

Income expressed relative to price or principal

Kiwango cha mapatoMapato yakilinganishwa na bei au mtaji

English

Yield expresses a stated cash-flow measure as a percentage of price, principal or another declared base.

Calculation or method: The formula depends on the instrument: dividend yield, coupon yield and auction yield are not interchangeable.
Why it matters: It makes an income rate visible, provided the numerator, denominator and dates are named.
What it does not mean: A higher yield is not automatically a higher total return, lower risk or better choice.

Kiswahili

Kiwango cha mapato huonyesha kipimo cha mtiririko wa fedha kama asilimia ya bei, mtaji au msingi mwingine uliotajwa.

Hesabu au mbinu: Fomula hutegemea chombo: kiwango cha gawio, kuponi na mnada si vipimo vinavyobadilishana moja kwa moja.
Kwa nini ni muhimu: Hufanya kiwango cha mapato kionekane ikiwa kiasi cha juu, msingi na tarehe vimetajwa.
Kisichomaanishwa: Kiwango cha juu si lazima kiwe jumla kubwa ya mapato, hatari ndogo au chaguo bora.

Basis point

One hundredth of one percentage point

Nukta ya msingiSehemu moja ya mia ya nukta moja ya asilimia

English

One basis point is 0.01 percentage points, so 100 basis points equal 1 percentage point.

Calculation or method: Basis points = percentage-point change × 100.
Why it matters: It states small changes in rates, yields or fees without decimal ambiguity.
What it does not mean: A 100-basis-point rise from 10% is 11%, not 20%.

Kiswahili

Nukta moja ya msingi ni nukta 0.01 za asilimia; nukta 100 za msingi ni nukta 1 ya asilimia.

Hesabu au mbinu: Nukta za msingi = mabadiliko ya nukta za asilimia × 100.
Kwa nini ni muhimu: Hueleza mabadiliko madogo ya viwango, mapato au ada bila utata wa desimali.
Kisichomaanishwa: Kupanda kwa nukta 100 za msingi kutoka 10% ni 11%, si 20%.

NAV

Net asset value

NAVThamani halisi ya mali

English

Net asset value is a fund's assets minus its liabilities, usually stated in total and/or per unit at a specific valuation date.

Calculation or method: NAV per unit = (assets − liabilities) ÷ units outstanding.
Why it matters: It is the manager-reported per-unit asset record used to understand a fund at its stated vintage.
What it does not mean: NAV is not automatically the exchange price, an executable redemption value or a complete investor-return series.

Kiswahili

Thamani halisi ya mali ni mali za mfuko ukiondoa madeni yake, kwa kawaida ikionyeshwa kwa jumla na/au kwa kila uniti katika tarehe maalum ya uthamini.

Hesabu au mbinu: NAV kwa uniti = (mali − madeni) ÷ uniti zilizopo.
Kwa nini ni muhimu: Ni rekodi ya thamani ya mali kwa kila uniti iliyotolewa na msimamizi kwa tarehe iliyotajwa.
Kisichomaanishwa: NAV si lazima iwe bei ya sokoni, thamani inayoweza kulipwa mara moja au mfululizo kamili wa mapato ya mwekezaji.

Premium or discount to NAV

Same-date exchange-price gap to NAV

Bei juu au chini ya NAVTofauti ya bei ya sokoni na NAV ya tarehe ileile

English

A premium or discount compares an ETF's exchange price with its published NAV on the exact same date.

Calculation or method: (same-date market price − same-date NAV) ÷ same-date NAV × 100.
Why it matters: It makes the gap between trading evidence and the fund's reported asset value explicit.
What it does not mean: A gap built from different dates is not comparable, and a displayed gap is not an arbitrage promise.

Kiswahili

Bei juu au chini ya NAV hulinganisha bei ya ETF sokoni na NAV iliyochapishwa katika tarehe ileile.

Hesabu au mbinu: (bei ya soko ya tarehe ileile − NAV ya tarehe ileile) ÷ NAV ya tarehe ileile × 100.
Kwa nini ni muhimu: Huonyesha wazi tofauti kati ya ushahidi wa biashara na thamani ya mali iliyoripotiwa na mfuko.
Kisichomaanishwa: Tofauti iliyotumia tarehe tofauti haiwezi kulinganishwa, na tofauti iliyoonyeshwa si ahadi ya faida isiyo na hatari.

Total return

Price change plus included cash distributions

Jumla ya mapatoMabadiliko ya bei pamoja na mgao wa fedha uliojumuishwa

English

Total return combines price change with the cash distributions included by the stated method over a defined period.

Calculation or method: (ending value − beginning value + included cash distributions) ÷ beginning value, adjusted for external cash flows where required.
Why it matters: It avoids treating price movement alone as the full economic result.
What it does not mean: It is not comparable across records that use different dates, currencies, cash-flow treatments, costs or taxes.

Kiswahili

Jumla ya mapato huunganisha mabadiliko ya bei na mgao wa fedha uliojumuishwa na mbinu iliyotajwa katika kipindi maalum.

Hesabu au mbinu: (thamani ya mwisho − thamani ya mwanzo + mgao wa fedha uliojumuishwa) ÷ thamani ya mwanzo, kwa kurekebisha fedha zinazoingia au kutoka inapohitajika.
Kwa nini ni muhimu: Huzuia mabadiliko ya bei pekee kuonekana kama matokeo kamili ya kiuchumi.
Kisichomaanishwa: Haiwezi kulinganishwa kati ya rekodi zinazotumia tarehe, sarafu, namna ya fedha, gharama au kodi tofauti.

Modified Dietz

Cash-flow-weighted period return

Modified DietzMapato ya kipindi yanayopima muda wa mtiririko wa fedha

English

Modified Dietz estimates a portfolio's period return while weighting external cash flows by how long they were present during the period.

Calculation or method: (ending value − beginning value − net external flows) ÷ (beginning value + time-weighted external flows).
Why it matters: It keeps contributions and withdrawals from being mistaken for investment performance.
What it does not mean: It is an approximation for a stated period, not a guarantee, forecast or directly investable result.

Kiswahili

Modified Dietz hukadiria mapato ya jalada kwa kupima fedha za nje kulingana na muda zilivyokuwapo ndani ya kipindi.

Hesabu au mbinu: (thamani ya mwisho − thamani ya mwanzo − fedha halisi za nje) ÷ (thamani ya mwanzo + fedha za nje zilizopimwa kwa muda).
Kwa nini ni muhimu: Huzuia michango na uondoaji wa fedha kuhesabiwa kimakosa kama utendaji wa uwekezaji.
Kisichomaanishwa: Ni makadirio ya kipindi kilichotajwa, si dhamana, utabiri au matokeo yanayoweza kununuliwa moja kwa moja.

Ballast

A stabilising sleeve in the model-book metaphor

Sehemu ya kusawazishaSehemu inayosaidia utulivu katika mfano wa jalada

English

Ballast is KCP's educational shorthand for the sleeve intended to steady the hypothetical model book when more volatile assets move sharply.

Calculation or method: A role label, not a calculation; the Ghost currently applies it to its fixed-income terrain.
Why it matters: It explains the intended portfolio role rather than naming an asset as inherently safe.
What it does not mean: Ballast does not mean risk-free, price-stable or suitable for every investor.

Kiswahili

Sehemu ya kusawazisha ni kifupi cha kielimu cha KCP kwa sehemu inayolenga kutuliza jalada la mfano wakati mali zenye mabadiliko makubwa zinatikisika.

Hesabu au mbinu: Ni jina la jukumu, si hesabu; The Ghost hulitumia kwa eneo lake la mapato ya kudumu.
Kwa nini ni muhimu: Hueleza jukumu linalokusudiwa katika jalada badala ya kutaja mali kuwa salama kiasili.
Kisichomaanishwa: Sehemu ya kusawazisha haimaanishi haina hatari, bei yake haitabadilika au inafaa kwa kila mwekezaji.