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6 Cards in this Set
- Front
- Back
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investment company
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Firm managing funds for investors. An investment company may manage several mutual funds.
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net asset value (NAV)
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The value of each share expressed as assets minus liabilities on a per-share basis.
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open-end (mutual) fund
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A fund that issues or redeems its own shares at their net asset value (NAV).
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closed-end (mutual) fund
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A fund whose shares are traded through brokers at market prices; the fund will not redeem shares at their net asset value. The market price of the fund can differ from the net asset value.
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load fund
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A mutual fund with a sales commission, or load.
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REIT
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Real estate investment trust, which is similar to a closed-end mutual fund. REITs invest in real estate or loans secured by real estate and issue shares in such investments.
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