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11 Cards in this Set
- Front
- Back
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Investment companies
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Financial intermediaries that invest the funds of individual investors in securities or other assets.
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Net asset value (NAV)
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Assets minus liabilities expressed on a per-share basis.
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Unit investment trusts
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Money pooled from many investors that is invested in a portfolio fixed for the life of the fun.
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Open-end fund
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A fund that issues or redeems its shares at net asset value.
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Close-end fund
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Shares may not be redeemed, but instead are traded at prices that can differ from net asset value.
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Load
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A sales commission charged on a mutual fund.
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Hedge fund
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A private investment pool, open to wealthy or institutional investors, that is exempt from SEC regulation and can therefore pursue more speculative policies than mutual funds.
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12b-1 feeds
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Annual fees charged by a mutual fund to pay for marketing and distribution costs.
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Soft dollars
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The value of research services brokerage houses provide "free of charge" in exchange for the investment manager's business.
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Turnover
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The ratio of the trading activity of a portfolio to the assets of the portfolio.
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Exchange-traded funds
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offshoots of mutual funds that allow investors to trade index portfolios.
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