Found: 27 Items
The cost of running a portfolio, charged annually against its income and/or capital. The expenses which make up this total include the costs of investment management and administration, directors' fees, audit fees and share registration expenses.
The fund managers' remuneration. The managers are also entitled to a periodic fee which is quoted as an annual percentage of the fund value, and factored into the daily price of the fund.
Mandatory Provident Fund
Compulsory pension fund in Hong Kong to which all employees are required to contribute.
'On Margin'--a process whereby a brokerage client uses credit to finance securities transactions.
Research used to assist in predicting the direction of the markets based on technical data relating to price movements of the market, or on fundamental data such as corporate earnings.
A collective term for quotes, last sales, volume statistics and other information used by the market to evaluate trading opportunities. Sometimes referred to as 'quotes' as in 'quote vendors' or the 'tape'.
A composite of market prices indicative of the movement of the market as a whole.
Those who trade in the market as principals, and create a market in a specific stock by continually quoting prices at which they will buy or sell on demand. They take positions in the stocks and so bear the risks involved.
A portfolio consisting of all assets available to investors, with each asset held in proportion to its market value relative to the total market value of all assets.
There are two prices quoted to dealers by stockbrokers: the higher or offer price at which they will sell you shares and the lower or bid price at which they will buy your shares. The difference between the two is known as the 'spread' or 'turn' (see Mid-market price).
The sensitivity of the market value of a portfolio to changes in financial asset prices such as: interest rates, foreign exchange rates, equity prices, and commodity prices.
The value of an investment if it were to be resold, or the current price of a security being sold on the market.
The process by which two brokerage firms that have engaged in a trade compare the settlement details of the trade provided by both counterparties. Matching is done to verify all aspects of a trade and ensure that all parties agree on the terms of the transaction. This comparison can be either through a clearing corporation that will net the trades or on a trade-by-trade basis.
In money markets and bond instrument, the date on which payment of the principal is made.
Also electronic messaging is the creation, storage, exchange, and management of text, images, voice, telex, fax, e-mail, paging, and Electronic Data Interchange (EDI) over a communications network.
Software that facilitates the communication between two applications. It provides an API through which applications invoke services and it controls the transmission of the data exchange over the network. There are three basic types: communications middleware, database middleware and systems middleware.
A price between the offer and bid prices at which shares are bought and sold. The mid-market price is used to calculate investment trust performance statistics. It is also the price used in most newspapers' share tables.
The minimum number of units / shares that a unitholder / shareholder may subscribe for and hold.
MIS (management information systems)
A general term for the computer systems in an organisation hat provide information about its business operations. It's also used to refer to the people who manage these systems. Typically, in a large corporation, "MIS" or the "MIS department" refers to a central or centrally-coordinated system of computer expertise and management, often including mainframe systems but also including by extension the corporation's entire network of computer resources.
Modern Portfolio Theory
Aims to minimize the risks of investing while maximizing returns through the diversification of a portfolio. Diversification is the process of allocating funds among a number of different asset classes. Modern portfolio theory looks at three main factors in determining appropriate investments for an investor's portfolio: the investor's goals and objectives for investing, the time frame of investment, and the investor's risk tolerance, or how comfortable the investor is with taking certain risks. Optimising a portfolio according to modern portfolio theory involves matching the statistics of expected risk and return for a number of different assets with the individual’s terms of investment.
A firm who acts as an intermediary between banks who wish to borrow/lend or exchange money.
The process of managing money, including investments, budgeting, banking, and taxes. Also called investment management.
Market for short-term debt securities, such as banker's acceptances, commercial paper, repos, negotiable certificates of deposit, and Treasury Bills with a maturity of one year or less and often 30 days or less. Typically safe, highly liquid investments.
Money Market Fund
A mutual fund that invests in high-yield, short-term debt instruments such as commercial paper, certificates of deposit and government securities. Money market fund essentially allows individual investors, collectively, to purchase instruments that would otherwise be accessible only to institutional investors.
Morgan Stanley Capital International
MSCI provides share market indices that measure the performance of share markets of different countries, regions and sectors. Investors may use these benchmark indices to compare with the performance of their own portfolio.
An investment company that raises investment capital from shareholders and invests in a portfolio of stocks, bonds and other market securities. Portfolio managers decide to buy, sell or hold securities in an attempt to take advantage of current and future market conditions. Investors profit through increases in the fund's share price (appreciation) and through the distribution of dividends.
Mutual Fund Custodian
An entity, usually a bank or trust company, which holds and safeguards securities owned by a mutual fund. Such an entity may also act as a transfer agent. Also called mutual fund corporation.