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Financial Terms | |
Annual fund operating expenses |
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Definition of Annual fund operating expensesAnnual fund operating expensesFor investment companies, the management fee and "other expenses,"
Related Terms:12b-1 fundsMutual funds that do not charge an upfront or back-end commission, but instead take out up to Accrued expenses payableexpenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services. accrued expenses payableThe account that records the short-term, noninterest- Annual percentage rate (APR)The periodic rate times the number of periods in a year. For example, a 5% annual percentage rate (APR)Interest rate that is annualized using simple interest. Annual percentage yield (APY)The effective, or true, annual rate of return. The APY is the rate actually Annual PremiumYearly amount payable by a client for a policy or component. ![]() Annual reportYearly record of a publicly held company's financial condition. It includes a description of the Annual ReportThe report required by the Stock Exchange for all listed companies, containing the company’s financial statements. Annual reportA report issued to a company’s shareholders, creditors, and regulatory annual returnThe fund return, for any 12-month period, including changes in unit value and the reinvestment of distributions, but not taking into account sales, redemption, distribution or other optional charges or income taxes payable by any unitholder that would reduce returns. Annualized gainIf stock X appreciates 1.5% in one month, the annualized gain for that sock over a twelve Annualized holding period returnThe annual rate of return that when compounded t times, would have Balanced fundAn investment company that invests in stocks and bonds. The same as a balanced mutual fund. Balanced mutual fundThis is a fund that buys common stock, preferred stock and bonds. The same as a Beta equation (Mutual Funds)The beta of a fund is determined as follows: ![]() Beta (Mutual Funds)The measure of a fund's or stocks risk in relation to the market. A beta of 0.7 means cash flow from operating activities, or cash flow from profitThis equals the cash inflow from sales during the period minus the cash Cash Flow Provided by Operating ActivitiesWith some exceptions, the cash effects of transactions Closed-end fundAn investment company that sells shares like any other corporation and usually does not Cost of fundsInterest rate associated with borrowing money. degree of operating leveragea factor that indicates how a percentage change in sales, from the existing or current degree of operating leverage (DOL)Percentage change in profits given a 1 percent change in sales. Dividend yield (Funds)Indicated yield represents return on a share of a mutual fund held over the past 12 Effective annual interest rateAn annual measure of the time value of money that fully reflects the effects of effective annual interest rateInterest rate that is annualized using compound interest. Effective annual yieldannualized interest rate on a security computed using compound interest techniques. ![]() Effective Annual Yieldannualized rate of return on a security computed using compound EFT (electronic funds transfer)funds which are electronically credited to your account (e.g. direct deposit), or electronically debited from your account on an ongoing basis (e.g. a pre-authorized monthly bill payment, or a monthly loan or mortgage payment). A wire transfer is a form of EFT. Employee stock fundA firm-sponsored program that enables employees to purchase shares of the firm's Endowment fundsInvestment funds established for the support of institutions such as colleges, private Equivalent annual annuityThe equivalent amount per year for some number of years that has a present Equivalent annual benefitThe equivalent annual annuity for the net present value of an investment project. Equivalent annual cash flowAnnuity with the same net present value as the company's proposed investment. Equivalent annual costThe equivalent cost per year of owning an asset over its entire life. equivalent annual costThe cost per period with the same present value as the cost of buying and operating a machine. ExpensesThe costs incurred in buying, making or producing goods and services. ExpensesCosts involved in running the company. Federal fundsNon-interest bearing deposits held in reserve for depository institutions at their district Federal Federal funds marketThe market where banks can borrow or lend reserves, allowing banks temporarily Federal funds rateThis is the interest rate that banks with excess reserves at a Federal Reserve district bank Federal Funds RateThe interest rate at which banks lend deposits at the Federal Reserve to one another overnight. Fixed ExpensesCost of doing business which does not change with the volume of business. Examples might be rent for business premises, insurance payments, heat and light. fixed expenses (costs)expenses or costs that remain the same in amount, Forward Fed fundsFed funds traded for future delivery. Fund familySet of funds with different investment objectives offered by one management company. In many Fundamental analysisSecurity analysis that seeks to detect misvalued securities by an analysis of the firm's fundamental analystsAnalysts who attempt to find under- or overvalued securities by analyzing fundamental information, such as earnings, asset values, and business prospects. Fundamental betaThe product of a statistical model to predict the fundamental risk of a security using not Fundamental descriptorsIn the model for calculating fundamental beta, ratios in risk indexes other than Funded debtDebt maturing after more than one year. funded debtDebt with more than 1 year remaining to maturity. Funding CostsThe price of obtaining capital, either borrowed or equity, with intent to carry on business operations. Funding ratioThe ratio of a pension plan's assets to its liabilities. Funding riskRelated: interest rate risk Funds From Operations (FFO)Used by real estate and other investment trusts to define the cash flow from GENERAL-AND-ADMINISTRATIVE EXPENSESWhat was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans. Global fundA mutual fund that can invest anywhere in the world, including the U.S. growth fundsMutual funds that seek long-term capital growth. This type of fund invests primarily in equity securities. Hedge fundA fund that may employ a variety of techniques to enhance returns, such as both buying and High-coupon bond refundingRefunding of a high-coupon bond with a new, lower coupon bond. Income fundA mutual fund providing for liberal current income from investments. income fundsMutual funds that seek regular income. This type of fund invests primarily in government, corporate and other types of bonds, debt securities, and other income producing securities and in certain circumstances can also hold common and preferred shares. Index fundInvestment fund designed to match the returns on a stockmarket index. index fundsMutual funds that aim to track the performance of a specific stock or bond index. This process is also referred to as indexing and passive management. internally generated fundsCash reinvested in the firm; depreciation plus earnings not paid out as dividends. International fundA mutual fund that can invest only outside the United States. international fundA mutual fund that can invest in securities issued anywhere outside of Canada. International Monetary FundAn organization founded in 1944 to oversee exchange arrangements of International Monetary Fund (IMF)Organization originally established to manage the postwar fixed exchange rate system. Labour-Sponsored Venture FundsVenture capital corporations established by labour unions. They function as other venture capital corporations but are subject to government regulation. Liability funding strategiesInvestment strategies that select assets so that cash flows will equal or exceed Life Income FundCommonly known as a LIF, this is one of the options available to locked in Registered Pension Plan (RPP) holders for income payout as opposed to Registered Retirement Savings Plan (RRSP) holders choice of payout through Registered Retirement Income funds (RRIF). A LIF must be converted to a unisex annuity by the time the holder reaches age 80. Load fundA mutual fund with shares sold at a price including a large sales charge -- typically 4% to 8% of Low-coupon bond refundingRefunding of a low coupon bond with a new, higher coupon bond. Match fundA bank is said to match fund a loan or other asset when it does so by buying (taking) a deposit of Money market fundA mutual fund that invests only in short term securities, such as bankers' acceptances, money market fundA type of mutual fund that invests primarily in short-term debt securities maturing in one year or less. These include treasury bills, bankers’ acceptances, commercial paper, discount notes and guaranteed investment certficates. Mutual fundMutual funds are pools of money that are managed by an investment company. They offer mutual fundWhen you buy a mutual fund, you are pooling your money with that of other investors. An investment professional called a portfolio advisor takes that money and invests it for all the investors in a variety of different securities as determined by the investment objectives of the mutual fund. This gives you the benefit of diversification that is, being invested in many different investments at once. Mutual fund theoremA result associated with the CAPM, asserting that investors will choose to invest their Net advantage of refundingThe net present value of the savings from a refunding. Net operating lossesLosses that a firm can take advantage of to reduce taxes. Net operating marginThe ratio of net operating income to net sales. No-load fundA mutual fund that does not impose a sales commission. Related: load fund No load mutual fundAn open-end investment company, shares of which are sold without a sales charge. Nominal annual rateAn effective rate per period multiplied by the number of periods in a year. NonrefundableNot permitted, under the terms of indenture, to be refundable. NSF (non-sufficient funds)This appears on your statement if there are insufficient funds in your account to cover a cheque that you have written or a pre-authorized payment that you have already arranged. You will be charged a service fee for non-sufficient funds. Objective (mutual fund)The fund's investment strategy category as stated in the prospectus. There are Open-end fundAlso called a mutual fund, an investment company that stands ready to sell new shares to the operating activitiesIncludes all the sales and expense activities of a business. operating budgeta budget expressed in both units and dollars Operating cash flowEarnings before depreciation minus taxes. It measures the cash generated from operating cash flowSee cash flow from operating activities. Operating Cash FlowIncome available after the payment of taxes, plus the value of the Operating cycleThe average time intervening between the acquisition of materials or services and the final Operating EarningsA term frequently used to describe earnings after the removal of the Operating expenseAny expense associated with the general, sales, and administrative Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |