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An investment advisory fee paid by a mutual fund’s manager for services. Many registered investment advisors also charge fees for accounts under management or for advisory services.
An account in which a customer purchases securities on credit extended by a broker/dealer.
A demand upon an investor for additional funds because of adverse price movement in a security.
A statistical collection that measures and quantifies a specific market’s price changes over specific time periods.
An order to buy or sell a stated amount of a security at the best possible price at the time the order is received in the market place.
A security’s price as determined by willing buyers and willing sellers in an open market.
The market value of a security is the last-sale price multiplied by total shares outstanding. It is calculated throughout the trading day and is related to the total value of the index.
The date on which a bond’s interest is required to be repaid.
A type of mathematical average. It’s derived by dividing a sum by the number of values that make up the sum.
A brokerage corporation with one officer or employee who is also a member of the NYSE.
A brokerage partnership with one officer or employee who is also a member of the NYSE.
Member firms and member corporations.
Any combination of two or more companies.
Investment strategy based on risk-return trade-offs and efficient diversification.
A low-risk mutual fund that invests only in short-term securities, such as bankers’ acceptances, commercial paper, repurchase agreements, and government treasury bills. The fund’s goal is principal preservation with modest dividends. Money market funds are neither insured nor guaranteed by the FDIC or any other government agency. Although the fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the fund.
A loan secured by the collateral of some specified real estate property. Mortgages require the borrower to make a predetermined series of payments.
A high-grade bond secured by a mortgage.
The average of security prices calculated in a period as short as a few days or as a long as a few years. As each new variable is included in calculating the average, the last variable of the series drops off.
Bonds issued by states, cities, counties and towns to fund public capital projects like roads, schools, sanitation facilities, bridges, as well as operating budgets. These bonds are exempt from federal taxation and from state and local taxes for the investors who reside in the state where the bond is issued.
A pool of money invested by an investment company in a number of securities like stocks, bonds, or government securities. Each mutual fund is different in it’s make-up and philosophy. Because most mutual funds invest in a large number of securities, they offer investors the benefit of diversification which can help reduce market risk.