An IOU of a municipal government or a corporation backed only by the general credit of the issuer and not secured by specific assets. It is a fixed income security, issued with a maturity of one year or more to raise funds in the long-term. It is an evidence of debt, in which the issuer promises to pay the investor a specific amount of interest for a period of time, and the eventual repayment of the principal on the maturity date.

Financial ratio, identifying the amount of debt incurred by a corporation to fund its growth, relative to its equity.

Systematic charges against earnings to write off the cost of an asset over its estimated useful life representing the loss in value due to 'wear and tear' through use. It is a bookkeeping entry and does not involve the expenditure of cash.

An individual elected by shareholders to the Board of Directors to oversee the operation of the business. The directors appoint the President, senior executives and officers of the company. They also decide when dividends are to be paid.

Means individual(s), company (ies), firm(s), Bank(s) or other entity (ies) appointed by the Pension Fund Manager for performing any or all of the Distribution Functions and shall include the Pension Fund Manager itself, if it performs the Distribution Function.

means with regard to:

a) Receiving applications for issue of Units together with the aggregate Offer Price for Units applied for by the applicants; 

b) Issuing of receipts in respect of (a) above; 

c) Interfacing with and providing services to the Holders including receiving redemption applications, transfer applications, conversion notices and applications for change of address or issue of duplicate Certificates for immediate transmission, in accordance with the instructions given by the Management Company or the Trustee, to the Management Company or the Transfer Agent as appropriate; and 

d) Accounting to the Trustee for all:

1. moneys received from the applicants for issuance of Units; 
2. payments made to the Holders on redemption of Units; and 
3. expenses incurred in relation to the Distribution Function.

Spreading investments among different asset classes; purchasing different securities in different companies, in different businesses, in various locations at different times. A method used to reduce and/ or eliminate unsystematic risk.