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Management Fee The amount a mutual fund pays to its investment adviser for its services to the fund. |
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Market Capitalization The current market price per share of a company multiplied by the number of shares outstanding. |
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Market Value The current market price of a security, derived by the number of a company’s stock shares outstanding multiplied by the price per share. |
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Maturity The date on which a bond issuer is obligated to repay the amount borrowed to the lender, or investor. |
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Minimum Investment The smallest amount needed to open a new account or to make additional investments in a mutual fund. |
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Money Market Funds Mutual funds that invest in short-term securities, such as U.S. Treasury bills, certificates of deposit from large banks, and commercial paper. These funds seek to maintain stability of principal and a constant value of $1 per share. The yield for money market funds changes according to market conditions and interest rates. Money market funds are neither insured nor guaranteed by the U.S. Government, and there is no assurance that they will be able to maintain a net asset value of $1.00. |
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MSCI EAFE® Index The MSCI EAFE® Index is an unmanaged index consisting of a market-value-weighted average of the performance of international securities listed on exchanges in Europe, Australasia and the Far East. |
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Municipal Bond A debt obligation issued by a city, state or municipality. Interest from these bonds is generally exempt from federal income tax. |
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Mutual Fund A mutual fund pools the money of many investors and invests it toward a specific goal, such as stability of principal, regular income, or long-term growth. An equity fund pools its money to purchase stocks, a fixed-income fund purchases bonds, and a money market fund purchases short-term debt instruments. The fund’s professional managers choose investments that, in their judgment, will help the fund achieve its goal. A mutual fund investor shares in the fund’s gains, losses, income, and expenses on a proportional basis. |
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