National Association of Securities Dealers (NASD, Inc.)
A self-regulatory organization for the securities industry in the United States. NASD, Inc. is responsible for the operation and regulation of NASDAQ and the over-the-counter securities markets; it is the parent company of NASD Regulation, Inc., and The NASDAQ Stock Market, Inc.
National Association of Securities Dealers Automated Quotation Service (NASDAQ)
The nationwide electronic quotation system for up-to-the-minute bid and asked quotations on over-the-counter securities.
When your monthly mortgage payments aren't large enough to cover the principal and interest due, unpaid interest is added to the loan balance, increasing the amount of money you owe.
The process by which an issuer employs a firm or group of firms to distribute their bonds on a best efforts basis. See also Competitive Sale.
The difference between a mutual fund's or variable annuity's total assets and liabilities.
Net Asset Value
Usually used in connection with investment companies to mean net asset value per share. An investment company computes its assets daily, or even twice daily, by totaling the market value of all securities owned. All liabilities are deducted, and the balance divided by the number of shares outstanding. The resulting figure is the net asset value per share.
The net of all contributions and withdrawals made to/from your account. Wrap account fees and any other fees paid from your account are treated as a withdrawal.
A security sold by an issuer for the first time or issuing additional shares.
New York Stock Exchange
A place where members trade stocks, bonds, warrants, options, and rights primarily for the public. The NYSE is an unincorporated association governed by a board of directors headed by a full-time paid chairman and comprised of 20 individuals representing the public and the exchange membership in about equal proportion.
Indicates the nonexistence of any type of sales charge on a mutual fund.
Non-US Equity Funds
A mutual fund that invests primarily in non-US equity securities of any market capitalization. Income is usually incidental.