A Japanese term describing a loose conglomeration of firms sharing one or more common denominators. The companies don't necessarily need to own equity in each other. This term has been in the news every now and then, especially when they talk about Silicon Valley. One example would be the close relationship between AOL and Sun Micro. The two firms don't have ownership in each other, but they work closely on various projects.
A debt service measure that financial lenders use as a rule of thumb to give a preliminary assessment about whether a potential borrower is already in too much debt. Receiving a ratio of less than 30% means that the potential borrower has an acceptable level of debt.Calculated as: |||For example, Jack and Jill, two law students, have a monthly mortgage payment of $1,000 (annual payment of $12,000), property taxes of $3,000 and a gross family income of $45,000. This would give a GDS of 33 %. based on the benchmark of 30%, Jack and Jill appear to be carrying an unacceptable amount of debt.Keep in mind that this ratio is only a very rough benchmark. The acceptance of a loan application is not solely determined by this ratio. Since this is a very simple ratio, there are a lot of subsequent factors that lenders consider. For example, even though Jack and Jill's GDS is above the benchmark, a lender may still lend to Jack and Jill because of their future earning potential as lawyers. When combined with other personal information, GDS can be a good way for lenders to screen borrowers.
Mutual fund units that charge service fees to their shareholders. The purpose of these fees is to compensate individuals who answer investor inquiries and provide information to the public or to investors about the fund. FINRA (formerly the NASD) limits funds from charging service fees in excess of 0.25% of their average net assets per year. Some mutual funds charge investors front-end or back-end loads. Others charge service fees to cover internal expenses for people that answer shareholder questions and inquiries. Because these fees occur consistently year after year, they can have a significant adverse impact on returns over time.
An embedded option within a project that allows the firm abort their operations at little or no cost. An exit option can typically only be exercised after key developments have occurred within the project. Like any other option, this instrument must be purchased at a cost which factors into the capital budgeting decision, but its value is not determined by the price of an underlying asset. For example, if company XYZ decides to expand their number of operating factories by 10 over five years, an exit option would allow them to abort this operation despite contractual obligations with suppliers and land developers. If, after 2 years, expansion remains a good idea, XYZ can continue to do so. However, if economic conditions have changed, the exit option provides the opportunity to stop further efforts at no cost.
The currency abbreviation for the Tonga pa'anga (TOP), the currency for Tonga. The Tonga pa'anga is made up of 100 hau and is often presented with either the symbol T$ or PT. The pa'anga is not convertible to any other currencies. |||The Tonga pa'anga replaced the Tonga pound at a rate of 2:1 in 1967 and was pegged at par with the Australian dollar. This peg existed until 1991, at which time the currency was pegged to a basket of the Australian dollar, New Zealand dollar, U.S. dollar and Japanese yen.
A type of investment product offered by insurance companies that allows its client to invest in an equity, bond and/or index fund while providing a promise that some predefined minimum value of the fund (usually, the initial investment amount) will be available at the fund's maturity or when the client dies. Insurance companies usually charge up to 1% of the investment amount per year for this service. |||Some guaranteed investment funds also give people the opportunity to "reset" the guaranteed amount during specific periods of time. This allows investors to lock in greater sums in the event that they incur a large capital gain.For example, suppose an investor near retirement age had invested $500,000 into this fund and after a incredible bull run, his investment grows to $585,000 in a year. By resetting the guarantee at this point in time, the investor has now guaranteed that he will at the very least receive $585,000.
Slang term for Australian stocks, it refers mostly to the stocks on the All-Ordinaries Index, which is composed of around 300 of the most active Australian companies. Kangaroos are one of the most recognizable symbols of Australia, outside of Mel Gibson and Nicole Kidman of course.
A securities license entitling the holder to register as a limited representative and sell mutual funds, variable annuities and insurance premiums. Holders of the Series 6 license are not permitted to sell corporate or municipal securities, direct participation programs and options. In order to obtain the Series 6 license, candidates must pass the Investment Company/Variable Contracts Products Limited Representative (Series 6) exam. The Series 6 exam is administered by the Financial Industry Regulatory Authority (FINRA) (formerly the National Association of Securities Dealers (NASD)), and covers topics on mutual funds, variable annuities, securities and tax regulations, retirement plans and insurance products. A passing grade is achieved by correctly answering at least 70 of 100 questions correctly within two hours and 15 minutes.Candidates must be sponsored by a member of FINRA or a self-regulatory organization (SRO) in order to write the exam. Upon receiving a passing grade, candidates must then register with FINRA through their sponsoring firms in order to transact authorized securities.
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