Return index, net basis - Datatype (RN)

The return index excluding tax credits, calculated for UK securities only.

For UK securities the RI includes a tax credit on the dividend until it was abolished in April 2004. Prior to that time dividends as announced by the company are grossed up to include the credit in the RI calculation. The rate used varies over time, the last rate being 10% in the period April 1999 to April 2004. RN should be used to see a return index measure which does not include tax credits.

The RN calculation is the same as RI except the dividends used are as announced by the security and not grossed up for the tax credits. It follows that since April 2004 the performance of RI and RN for UK securities is the same.