An investment firm or brokerage that offers investors a wide array of mutual funds from different fund families. Investors benefit by obtaining access to an extensive range of top performing funds, as well as by receiving a consolidated statement of all their mutual fund holdings. As the mutual fund industry has matured, fund families have been finding it increasingly difficult to channel investors to funds solely from their family, due to competition from other mutual funds and newer products such as exchange-traded funds. Investors also prefer investing across different fund families, since a single family is unlikely to have the top performers in all of the myriad categories now available.
1. A method of stabilizing a country's currency by fixing its exchange rate to that of another country. 2. A practice of and investor buying large amounts of an underlying commodity or security close to the expiry date of a derivative held by the investor. This is done to encourage a favorable move in market price. |||1. Most countries peg their exchange rate to that of the United States. 2. An investor writing a put option would practice pegging so that he or she will not be required, due to lowering prices, to purchase the underlying security or commodity from the option holder. The goal is to have the option expire worthless so that the premium initially received by the writer is protected.
An option payoff that is equal to the asset's price if the asset is above the strike price, otherwise the payoff is zero. These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry. Asset-or-Nothing Call Option An option payoff that is equal to the asset's price if the asset is above the strike price, otherwise the payoff is zero. These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry.
A mutual fund that invests in other mutual funds. This method is sometimes known as "multi-management". A fund of funds allows investors to achieve a broad diversification and an appropriate asset allocation with investments in a variety of fund categories that are all wrapped up into one fund. However, if the fund of funds carries an operating expense, investors are essentially paying double for an expense that is already included in the expense figures of the underlying funds. Historically, a fund of funds showed an expense figure that didn't always include the fees of the underlying funds. As of January 2007, the SEC began requiring that these fees be disclosed in a line called "Acquired Fund Fees and Expenses" (AFFE).
A procedure implemented to protect an option holder where the Option Clearing Corporation will automatically exercise an "in the money" option for the holder. Think of it as an insurance policy for those who aren't as tuned in with the 3rd Friday of every month.
The nickname for the U.S. Dollar/French Franc currency pair prior to France's conversion to the Euro. Since the franc was replaced by the euro, there is no modern equivalent to the Paris Pair. |||The franc was France's national currency until the euro was introduced in 1999. Euro coins and notes replaced the franc entirely during the first two month of 2002. The U.S. dollar/French franc currency pair became known as the Paris Pair.
The person(s) resposible for implementing a fund's investing strategy and managing its portfolio trading activities. A fund can be managed by one person, by two people as co-managers and by a team of three or more people. Fund managers are paid a fee for their work, which is a percentage of the fund's average assets under management.Also known as an "investment manager". The individuals involved in fund management (mutual, pension, trust funds or hedge funds) must have a high level of educational and professional credentials and appropriate investment managerial experience to qualify for this position. Investors should look for long-term, consistent fund performance with a fund manager whose tenure with the fund matches its performance time period.The whole point of investing in a fund is to leave the investment management function to the professionals. Therefore, the quality of the fund manager is one of the key factors to consider when analyzing the investment quality of any particular fund.
A type of option whose underlying asset is a basket of commodities, securities, or currencies. A currency basket option provides a cheaper method for multinational corporations to receive/sell a basket of several currencies for one specified currency. An example would be MacDonald's buying a basket option involving Indian rupees and British pounds in exchange for U.S. dollars.
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