A limit placed on the operating expenses incurred by a mutual fund. The expense limit is expressed as a percentage of the fund's average net assets and represents a cap to the fees a shareholder may be charged. Expense limits are often voluntarily placed on a fund by its manager. The addition of an expense limit can make a fund more attractive, as investors are fully aware of the maximum percentage they may be charged. With an expense limit, fees will never be above the stated percentage; however, the fund may charge under the stated limit. Funds that use an expense limit are referred to as capped funds, since the limit caps the fees that shareholders can be charged.
The strike price of a put or call option multiplied by its contract size. Aggregate exercise prices are used to determine the dollar amount required should the option be exercised. For example, if options on ABC co. have a contract size of 100 shares and a strike price of $10, then the aggregate exercise price will be $1000 ($10 * 100 shares). In the case of a bond option, the exercise price is multiplied by the face value of the underlying bond. Aggregate Exercise Price The strike price of a put or call option multiplied by its contract size. Aggregate exercise prices are used to determine the dollar amount required should the option be exercised. For example, if options on ABC co. have a contract size of 100 shares and a strike price of $10, then the aggregate exercise price will be $1000 ($10 * 100 shares). In the case of a bond option, the exercise price is multiplied by the face value of the underlying bond.
A fee or charge assessed to an investor for withdrawing money prior to a previously stipulated date. This is almost always expressed and charged as a percentage of assets rather than a flat fee.May also be known as a "redemption fee", "back-end load" or "contingent deferred sales charge". Exit Fees may be found not only on mutual funds as back-end loads, but also on hedge funds, annuities and limited partnership units. Often the managers of these funds employ investing strategies that keep daily liquidity to a minimum, and the exit fees act as a deterrent to early withdrawals.
The currency abbreviation or currency symbol for the New Zealand dollar (NZD), the currency of New Zealand. The New Zealand dollar is made up of 100 cents and is often represented by the symbol $ or NZ$ to set it apart from other currencies based in dollars. The currency is also used in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands.Also known as the Kiwi. |||When New Zealand's currency was decimalized in 1967, the New Zealand dollar replaced the New Zealand pound at a rate if 2 dollars to 1 pound. Initially pegged to the United States dollar (USD), the New Zealand dollar went through a series of changes in the fixed exchange rate until March of 1985, when the currency was allowed to float freely.The currency is often known as a kiwi because of the national bird found stamped on the one dollar coin.
1. An option's strike price after adjustments have been made for stock splits to its underlying security. 2. A term used to describe the strike prices for options written on Ginnie Mae pass through certificates. 1. Anytime changes occur on securities in which options are written, the strike price and delivery quantity must be adjusted in order to ensure that neither the long or short holder of the options are affected. For example, if an option for stock ABC had an exercise price of $50, and the underlying stock split 2 for 1, then the option would have an adjusted exercise price of $25 for 200 shares. 2. The interest rates assigned to GNMA pass through certificates differ from that of their benchmark rate. As such, these rates must be adjusted so that the investor will receive the same yield. Adjusted Exercise Price 1. An option's strike price after adjustments have been made for stock splits to its underlying security. 2. A term used to describe the strike prices for options written on Ginnie Mae pass through certificates. 1. Anytime changes occur on securities in which options are written, the strike price and delivery quantity must be adjusted in order to ensure that neither the long or short holder of the options are affected. For example, if an option for stock ABC had an exercise price of $50, and the underlying stock split 2 for 1, then the option would have an adjusted exercise price of $25 for 200 shares. 2. The interest rates assigned to GNMA pass through certificates differ from that of their benchmark rate. As such, these rates must be adjusted so that the investor will receive the same yield.
A distribution from a mutual fund that is not subject to income tax. Exempt-interest dividends are often associated with mutual funds that invest in municipal bonds. While exempt-interest dividends are not subject to federal income tax, they may still be subject to state income tax or the Alternative Minimum Tax (AMT). The dividend income must be reported on the income tax return, and it is reported by mutual funds on Form 1099-INT. Individuals with high net worths are more likely to use municipal bonds and funds because the tax savings outweigh the lower returns provided by the investments. The tax benefits provided by the investments, including exempt-interest dividends, are lost if the investments are held in an IRA. This is because all dividends and interest within an IRA are considered tax-exempt.
In currencies, this is the abbreviation for the Nepal Rupee. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
The calculation of an insurance premium based on crucial factors such as the applicant's age, gender, health, family history and the type of insurance coverage applied for. This allows insurers to treat applicants fairly according to their estimated risk levels. In automobile insurance, insurers use age as a rating factor in determining individual premiums. Thus, because young people tend to have less favorable driving records as a group, these individuals are required to pay out more in premiums, which normally include the expected value of losses. Actuarial Equity The calculation of an insurance premium based on crucial factors such as the applicant's age, gender, health, family history and the type of insurance coverage applied for. This allows insurers to treat applicants fairly according to their estimated risk levels. In automobile insurance, insurers use age as a rating factor in determining individual premiums. Thus, because young people tend to have less favorable driving records as a group, these individuals are required to pay out more in premiums, which normally include the expected value of losses.
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