An organization, often a collection of professional investors, whose primary objective is to invest its own capital (assets) or that of those whose interest it represents. It generally buys and sells in large volumes. Examples include pension funds, investment companies, banks and life insurance companies.

Income earned on fixed-income investments treated as ordinary earned income and taxed fully at an individual's marginal tax rate.

The investment goal of an investor. The three primary investment objectives of an investor are safety, income and growth. Two secondary investment objectives are tax minimization and liquidity.

A term used to describe securities or investments.

The use of previous valuation date for purpose of pricing, purchases and redemptions of mutual funds.

Claims made by creditors against a corporation. Liabilities include those due and payable within the year, known as current liabilities (including accounts payable, taxes payable) and those payable after one year, referred to as long-term liabilities (including bonds, bank loans and mortgages).

The sale value of an asset.

The commission or cost of acquiring a mutual fund. See Sales Charge.

Liabilities that are due in more than one year.