London is home to numerous museums, galleries, libraries, sporting events and other cultural institutions, including the British Museum, National Gallery, Tate Modern, British Library and 40 West End theatres. The London Underground is the oldest underground railway network in the world.
The expected return is used to figure the taxable portion of pension that is taxed under the general rule. For a lifetime pension, it is computed by multiplying the annual pension by the applicable expected life multiple from government actuarial tables.
The expected shortfall at q% level is the expected return on the portfolio in the worst % of the cases. Expected shortfall is also called conditional value at risk (CVaR), average value at risk (AVaR), and expected tail loss (ETL). ES evaluates the value (or risk) of an investment in a conservative way, focusing on the less profitable outcomes.