What are repossession and foreclosure?
The act of taking possession of property by the owner of the asset or a creditor with a security interest in that asset upon termination of or debtor default on the agreement that...
When a corporation raises capital through the sale of capital stock or securities convertible into shares of stock, it may be required by law or its corporate charter to offer the...
What are participation certificates?
A participation certificate (PC) is usually a bearer instrument securitizing its holders the right to share in the distributable profits of the issuing company and in liquidation p...
What are operating expenses and other fund costs?
Operating expenses (Opex) are annual asset-based expenses paid out of fund assets by an investment fund as a percentage of the fund’s value, such as the investment advisory fee and...
What are open-end (mutual) and closed-end funds?
A mutual fund is an investment company that continually issues redeemable shares without limit (open end) upon investor demand, typically through a registered broker-dealer for the...
The sale of shares or bonds by the issuing company to the general public for the first time, as distinct from a distribution by an existing shareholder, is a primary offering. New...
What are mutual fund shareholder fees?
The price at which mutual fund shares are sold to the public is its public offering price (POP), it including the sales charge plus the NAV for funds with loads. For no-load funds...
What are municipal GO and revenue bonds?
A municipal bond that is either backed by dedicated taxes on property or payable from general funds is a general obligation (GO) bond. While “general obligation” can mean that the...
What are municipal bonds and notes?
A municipal bond is an intermediate- to long-term bond issued by any local government authority other than the national government, such as a city, county and state government and...
A money market fund is an investment fund comprising a portfolio of high-quality, short-term securities, such as treasury bills and commercial paper, and that pays dividends that n...
