大家在复习备考过程中，熟练掌握金融词汇是至关重要的一项技能。小编为大家整理了一下基金相关的词汇解析，希望能够对大家的复习备考有所帮助。
　　Closed-End Fund
　　A type of investment company that has a fixed number of shares which are publicly traded.The price of a closed-end fund’s shares fluctuates based on invest or supply and demand.Closed-end funds are not required to redeem shares and have managed portfolios.
　　Exchange-Traded Fund(ETF)
　　An investment company with shares that trade in traday on stock exchanges at marketdeterminedprices.Investors may buy or sell ETF shares through a broker just as they would the shares of any publicly traded company.
　　Hedge Fund
　　Aprivate investment pool for wealthy investors that,unlike a mutualfund,is exempt from SEC regulation.
　　Hybrid Fund
　　Amutual fund that invests in a combination of stocks,bonds,and other securities.
　　Mutual Fund
　　An investment company that buys a port folio of securities selected by a professional investment adviser to meet a specified financial goal.Investors buy shares in a fund,which represent owner ship in all the fund’s securities.A mutual fund stands ready to buy back its shares at their current net asset value,which is the total market value of the fund’s investment portfolio,minus its liabilities,divided by the number of shares outstanding.Most mutual funds continuously offer new shares to investors.
　　Open-End Investment Company
　　The legal name for a mutual fund,indicating that it stands ready to redeem(buyback)its shares from investors.
　　Prepayment Risk
　　The possibility that a bond owner will receive his or her principal investment back from the issuer prior to the bond’s maturity date.
　　Prospectus
　　The official document that describes a mutual fund to prospective investors.The prospect us contains information required by the SEC,such as investment objectives and policies,risks,services,and fees.
　　Equity Funds
　　Capital appreciation funds seek capital appreciation;dividends are not aprimary consideration.
　　Taxable Bond Funds
　　Corporate bond funds seek current income by investing in high quality debt securities issued by U.S.corporations.

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