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As an investor in today's complex world, you're bombarded by industry terminology everywhere you turn. In the FESCO Investing Terms Glossary we've defined many of these terms for you in an easy-to-understand manner.
Browse Terms Alphabetically
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| View a list of all terms here. |
| Investing Glossary: "N" Terms |
Financial Industry Regulatory Authority (FINRA) |
A selfregulatory agency registered with the SEC. |
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Negotiable Certificate of Deposit |
A time deposit at a fixed rate of coupon interest. The issuer must redeem at maturity at the face value plus the stated interest rate. Holders can, however, resell the instrument in the secondary market at prevailing rates. To be negotiable, such certificates of deposit (CDs) must have face values of $100,000 or more, with S1 million and multiples thereof being most common. Maturities of less than one year are common, but there is no time limit and CDs of three to five years are also issued. |
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Net Asset Value (NAV) |
A share value in a mutual fund equal to the difference between the total market value of the mutual fund's securities and other assets less the total liabilities, divided by the number of shares outstanding. |
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No-Load Fund |
A mutual fund which can be purchased without paying a sales charge. The cost is equal to the net asset value. In practice, no load means that both the bid and offer price of the fund are the same (i.e., the net asset value of the underlying shares). |
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