The total rupee value of mutual fund units in a unit holder's account. Account value is calculated by multiplying the number of fund units held in an account by the current net asset value per unit (NAV). If the account includes more than one fund, the results of this calculation for each fund are added together to obtain the value of the account.

Cost of acquiring units of a mutual fund, including commissions and fees paid at the time of purchase.

Means the Business Day following the completion of one full year from the opening of the Individual Pension Account with the Pension Fund Manager and thereafter the Business Day following completion of subsequent one full year.

An audited formal financial statement and report on its operations, distributed by a publicly held firm to its shareholders after its fiscal year-end.

A contract, usually between an insurance company and an individual, under which an amount is paid to the insurance company in exchange for the right to receive future regular payments, over a specified period of time.

The process of selecting the optimal combination of securities from the different asset classes for an institutional or individual portfolio. Over time the portfolio will be re-balanced as markets change or the circumstances of an investor's personal and financial situation change in the case of an individual portfolio.

An intensive examination of the accounting and financial procedures and practices of a company or mutual fund, and is carried out by auditors. See Auditors.

The total number of shares declared by a corporation at the time of its incorporation that can be issued, limited by its articles of incorporation. In the case of a mutual fund corporation, the charter permits an unlimited number of shares to be issued on a continuous basis.

Average time remaining to maturity of bonds in a portfolio. A longer average term to maturity will provide the investor with a higher yield, but also subjects the investor to potentially higher risk if interest rates were to rise.