GCPA Glossary

a | b | c | d | e | f | g | h | i | j | k | l | m | n | o | p | q | r | s | t | u | v | w | x | y | z

NASDAQ Composite Index
The NASDAQ Composite Index is generally considered representative of high growth stocks. It is a market-weighted index where each company's stock value affects the index in proportion to its market value. An index is unmanaged and you cannot invest directly in an index.

Negotiable certificates of deposit
A CD with a very large denomination, usually $1 million or more. Usually bought by institutional investors. Also called a jumbo CD.

Net asset value (NAV)
The value of a mutual fund share. Determined by dividing the total value of the fund's assets by the number of outstanding shares. This value is calculated daily by the fund.

Net assets
The value resulting from assets minus liabilities.

New York Stock Exchange Composite Index
The New York Stock Exchange Composite Index is an average of the price changes of all the common stocks listed and traded on the New York Stock Exchange. It is expressed in index points relating the current index value to a base index value. (The base for the NYSE Composite Index was set at 50.00 on Dec. 31, 1965.) The NYSE Composite Index is the only major measure that reflects the whole NYSE market.

No minimum fund
A mutual fund with no minimum investment required.

No-load mutual fund
A fund that does not charge a sales fee. However, funds may charge 12(b)1 fees as well as other management expenses. Refer to the fund's prospectus for complete information on risks, fees and expenses.

a | b | c | d | e | f | g | h | i | j | k | l | m | n | o | p | q | r | s | t | u | v | w | x | y | z