Glossary of Terms

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 Closed-end fund

A fund with a fixed number of shares outstanding, and one that does not redeem shares the way a typical mutual fund does. Such funds are often listed on a major stock exchange and trade like other securities. Unlike a typical mutual fund, a closed-end fund's share price can trade above or below its net asset value (NAV).

 Certified Financial Planner™ (CFP™) Designation

A professional who has successfully passed the exams of the Institute of Certified Financial Planners, earning certification as a financial advisor. Areas of expertise generally include banking, investments, retirement, estate planning, insurance, and taxes.

 Capital Growth Fund

Also called a growth fund. A mutual fund with the objective of providing long-term capital gains and high potential future income, rather than current income. Capital growth funds are more aggressive than common stock funds, generally investing in more speculative issues.