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Permanent Interest Bearing Shares (PIBs)

Issued by major building societies, these offer investors a fixed income paid twice yearly, after deducting basic rate tax. Traded on the London Stock Exchange, their market value changes in response to interest rates. PIBs are not redeemable, and are similar to, but riskier than, undated government stocks (gilts).

With a total market of less than £1billion, PIBs are less liquid than gilts.

 

 

 

12 April, 2008
 
© 2008 K.R.Wade and Co Ltd