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Capital Appreciation An increase in the market value of an investment. |
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Capital Appreciation Fund A mutual fund that seeks maximum capital appreciation by investing primarily in stocks. |
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Capital Gain The profit made from the sale of securities due to an increase in share value. |
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Capital Gains Distributions Payments of capital gains to shareholders of a mutual fund. For tax purposes, long-term capital gains distributions are separate from interest income or dividends. |
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Capital Growth An increase in the market value of a fund's securities which is reflected in the value of the fund's shares. Capital growth is a specific long-term objective of many stock mutual funds. |
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Cash Equivalents Investments that are of such high liquidity and safety that they are considered virtually as good as cash, such as U.S. Treasury Bills or money market instruments. |
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Cash Position The percentage of a mutual fund's assets that are invested in short-term cash equivalents. |
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Certificate of Deposit (CD) An instrument issued by a bank or savings and loan, which promises to repay your money at a specified date and with a specified amount of interest. CDs are often federally insured. |
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Citigroup US High-Yield Market Index The US High-Yield Market Index captures the performance of below-investment-grade debt issued by corporations domiciled in the United States or Canada. This index is the broadest high-yield market measure and includes cash-pay and deferred-interest securities. All the bonds are publicly placed, have a fixed coupon, and are nonconvertible. Bonds issued under Rule 144A are included in their unregistered form. Index attributes - the stated coupon is fixed rate, minimum maturity is one year, weighting market capitalization is updated once a month, and the calculation frequency is daily. |
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Commission A fee paid to a broker for executing a trade. |
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Compounding The growth of an investment that comes from earnings on both the original principal amount invested and the reinvested income and capital gains. |
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Contingent Deferred Sales Charge A fee (or back-end load) imposed by certain funds on shares redeemed within a specific period following their purchase. These charges are usually assessed on a sliding scale, with the fee reduced each year the shares are held. |
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CPI + 500 Basis Points The CPI + 500 Basis Points benchmark is created by adding 5% to the annual percentage change in the Consumer Price Index ("CPI"). The percentage change in the CPI is a representation of the rate of inflation of U.S. consumer prices as determined by the U.S. Department of Labor Statistics. There can be no guarantee that the percentage change in the CPI or other indices will reflect the exact level of inflation at any given time. |
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Current Yield The income paid annually on bonds or bond mutual fund shares, expressed as a percentage of the current price per share. |
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Custodian An organization, usually a bank, which holds in custody and safekeeping the securities and other assets of a mutual fund. |
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