Characteristic effects (8)
I believe the answer is:
property
This clue is a double definition.
'characteristic' is the first definition.
(thesaurus)
'effects' is the second definition.
(thesaurus)
(Other definitions for property that I've seen before include "Asset" , "Possessions, collectively" , "Owned item(s)" , "Belongings" , "Tangible possession" .)