Markets have corrected, it’s the best time to Invest in mutual funds

This article covers the frequently used terminologies that one may encounter while understanding or reading about Mutual Funds

1. Acid Test Ratio: It is the ratio obtained by dividing the current assets of a company by the current liabilities. It is an indication of the company’s financial strength

2. Annual Fund Operating Expenses:The expenses acquired by an asset management company for fund management during a particular year.

3. Asset Allocation: Diversification of investments into various kinds of assets for risk optimisation.

4. Asset Allocation Fund: This fund’s portfolio is comprised of various investments such as government securities, real estate stocks, gold bullion, domestic stocks, foreign stocks, and bonds. The proportion allocated to different sectors can remain constant or change as per market fluctuations.

5. Asset Management Company: A SEBI registered company that handles asset management and investment decisions for mutual funds.

6. Automatic Investment Plan:  An investment plan where a fixed amount is deducted every month from the investor’s bank account and invested in the chosen mutual fund.

7. Automatic Reinvestment: This option available for mutual fund unit holders involves diversion of earnings from fund dividends or capital gains to buy more fund units.

8. Back End Load: The charge levied on exiting a mutual fund to dissuade investors from withdrawal.

9. Balanced Fund:  A balanced fund comprises of both equity and debt funds with 50-75% allocated to equity and the rest to debt scheme.

10. Benchmark: Benchmark is an unmanaged group of securities whose performance is taken as a standard against the performance of other investments. BSE Sensex and NSE Nifty are a few benchmarks.

11. Bid or Sell Price: The price at which mutual fund shares are repurchased by the fund.

12. Blue Chip Fund: Mutual funds that invest in stocks of a well-established company. The stocks of such a company are called blue-chip stocks.

13. Bond: It is a debt investment where the investor lends the money to the company or the government for a particular period and interest rate.

14. Bond Fund: A mutual fund with a portfolio majorly comprising of corporate and government bonds. They are income-oriented rather than growth-oriented funds.

15. Bond Rating: It is a grade assigned to a bond indicating its credit quality. Bonds of blue-chip firms have a higher bond rating, which indicates the safety of the investment.

16. Capital Gains Distribution: This is the end of year amount paid to mutual fund shareholders which are obtained on selling securities in the mutual fund portfolio.

17. Capital Growth: The change in net asset value per share of a mutual fund’s securities due to an increase in its market value.

18. Certificate of Deposit:A short tenure debt instrument issued at a specified interest rate by banks.

19. Closed-End Schemes: A mutual fund scheme where the money is committed for a particular tenure by the investors.

20. Contingent Deferred Sales Charge (CDSC): It is a fee levied on the sale of a specific investment. It is a percentage of the invested amount, also known as an exit fee or redemption charge.


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21. Conversion Privilege: The privilege shareholders gain through mutual funds to utilise the income obtained or capital gains for the purchase of additional shares without any sales charge.

22. Corpus: The net amount of money invested in a scheme collectively by all investors.

23. Coupon: The stated interest rate on a bond issuance. The coupon is semiannually paid.

24. Credit Quality: Average credit quality reflects the overall credit quality of the portfolio. Credit quality is given as an average credit rating of each bond, weighted by the relative size in the portfolio.

25. Custodian:  Custodian is the trust company or bank that takes care of mutual fund’s assets and portfolio of securities or maintains a record of them. Custodian only serves the purpose of safekeeping and plays no role in portfolio management

26. Debt Fund:  This fund invests in investment instruments like bonds, treasury bills etc. which are fixed income in nature. This is a preferred choice for investors who have a low-risk appetite.

27. Deferred Sales Charge Schedule of Decline:  The amount that needs to be paid for the corresponding time duration. The value of this amount goes down with time. Longer the fund is held, lower the sales charge.

28. Distributor:  An individual or corporation involved in the direct buying of shares from the fund and reselling them to other investors.

29. Dividend Plan:  In dividend plans, the investor receives timely dividends when they are declared. .

30. Dividend Stripping:  The investor invests with the intention of exiting the fund as soon as the dividend is paid.

31. Duration:  Its a measure of how sensitive a fund is to shift in interest rates. The longer a fund’s duration, the more vulnerable it is to interest rate fluctuations.

32. Entry Load:  Entry fee levied at the time an investor buys units of a scheme.

33. Equity Fund: Mutual Fund scheme that invests only in equity.

34. Equity- Linked Savings Scheme:    In this scheme, the majority of the invested in ELSS is in equity. The dividends earned in this scheme are tax exempt.

35. Ex-Dividend Date:  The date on which the Net Asset Value (NAV) of a fund decreases by an amount equal to the dividend and /or distribution of capital gains.

36. Exchange Privilege: A facility offered by some mutual funds where the investor can make a midway switch from one scheme to another within the same fund type without incurring any charges.

37. Exit Load: The fee that an investor needs to pay upon exiting from a mutual fund. The charge is levied to dissuade investors from withdrawing.

38. Expense Ratio:  It tells how much amount needs to be paid to the fund for managing your money.

39. Floating Rate Debt:  A bond whose stated interest rate changes as per market fluctuations.

40. Fund Family: A mutual fund company that offers various funds for different investment objectives.

41. Fund Manager: The person responsible for all decisions related to the mutual fund.

42. Gilt Fund: Gilts are securities that are issued by the government and carry minimal risk.

43. Global Fund:  A mutual fund investing in stocks or bonds all over the world.

44. Growth Plan: Mutual fund with long-term capital growth as the primary objective.

45. Hedge Fund: Hedge funds use a combination of different techniques to get higher returns.

46. Holding Period: The duration for which a security is held by an individual.

47. Holdings:A fund’s top performing securities.

48. Inception Date: The date on which the fund started operation.

49. Income Fund:The primary aim of this mutual fund is to enhance current income rather than long-term capital growth. This mutual fund invests in stocks and bonds which earn a higher return.

50. Index Fund: Funds that purchase securities that follow the pattern of returns represented by BSE sense.

51. Initial Purchase: The minimum amount required to open a new account. This amount notifies the investor of the monetary constraints he has as a shareholder. A fund’s initial purchase is an important criterion to check while selecting a suitable mutual fund.

52. Interest Rate: The monthly effective rate that is applicable to the amount borrowed. It is indicated as a percentage of the amount borrowed.

53. Interest Rate Sensitivity:  Interest rate sensitivity is an indication of how sensitive a fund is to changes in interest rates. A fund with a longer tenure is more susceptible to interest rate changes and hence more volatile as a fund than a fund with a shorter tenure.

54. Intermediate Bond Fund: A mutual fund investing in bonds with a deposit period ranging from 5-10 years.

55. Investment Objective: The long term or short term financial goal that an investor or mutual fund strives for.

56. Investment Yield:  The yield of an investment is related to the risks and prospects of the investment. If its a low-risk investment with better prospects than expected yield would be low, and the capital value would be higher.

57. Jobbers: Stock exchange brokers who are involved in buying and selling of shares they specialize in.

58. Level Load: Commission(load) that stays unchanged irrespective of the duration for which an investment was held by the investor.

59. Liquid Fund: Same as money market fund minus the lock-in period.

60. Load: The entry and exit fee that an investor pays on buying and selling units.

61. Lock-in- Period:  The period for which a particular investment is restricted from being sold by the investor.

62. Long-Term Bond Fund:  A mutual fund that invests in bonds with a maturity period of more than 10 years.

63. Long Term Capital Gain:  The revenue generated by selling a mutual fund share that has been held for more than a year.

64. Management Fee:  The fee paid by the mutual fund to the investment advisor for the portfolio management of the fund and other advisory services. The fee ranges from 0.5 to 0.1% of the asset value of the fund.

65. Money Market Fund:   A mutual fund investing only in RBI specified investment instruments and money markets like commercial papers, treasury bills certificate, commercial bills etc. These funds come with a minimum lock-in period of 15 days and are regulated by SEBI.

66. Mutual Fund:  It is a kind of trust with pooled funds from a number of investors for the purpose of wealth creation by investing in various financial avenues.

67. Net Asset Value:  NAV is the value of one unit in the mutual fund scheme and is a measure of the fund’s performance.

68. Net Asset Value Per Unit:  The present market value of a mutual fund share. It is calculated daily by considering the total assets i.e. securities, accrued income, deducting the liabilities and then dividing the result by the number of outstanding units.

69. Net Assets: It is denoted as total assets minus the total liabilities.

70. No-load Fund:  Mutual fund in which no charge is levied on the sale or purchase o units.

71. Open Ended Schemes:  Mutual fund schemes that issue new units to the public on a regular basis are called open-ended schemes. The duration for redemption is not specific.

72. Operating Expense:  The expenses acquired for operating a business. Includes raw material, maintenance charges cost etc.

73. Payable Date: The date on which dividends are paid to shareholders who do not plan on reinvesting them.

74. Portfolio Manager:  Portfolio manager is hired by the fund advisor to handle investment decisions regarding buying and selling of securities for the mutual funds according to the fund’s objective.

75. Price/Book Ratio: It is a metric to compare the market value of a stock to its book value. It is represented as Market Price per share divided by the book value per share.

76. Prime Rate Fund:  A mutual fund that purchases some percentage of corporate loans from banks and pays the interest to shareholders.

77. R& T agents:  Registrars and transfer agents that are responsible for all paperwork involved in investor servicing.

78. Redemption Fee: The fee levied on an investor for exiting a mutual fund. This is imposed to dissuade investors from withdrawing.

79. Redemption Price:  The price at which the fund repurchases a mutual fund’s shares. It is often equal to the present net asset value per share. The redemption price is also known as sell price, bid etc.

80. Reinvestment Privilege:  Some mutual funds allow their shareholders to use the income from capital gains to buy additional shares without having to pay any sales charge. This is a reinvestment privilege.

81. Risk:  Measure of the ability of an investor to withstand market fluctuations and volatility.

82. Roll Over Option:  This is an option offered by some funds where after redemption investors can choose to reinvest the amount if the fund’s performance is good.

83. Rupee Cost Averaging: A system in which the investor re-invests money into the same mutual fund periodically.

84. Sales Charge: Fees remitted to a brokerage house by a purchaser of shares in a load mutual fund.

85. Sector Fund: An equity scheme that invests in shares of companies belonging to a particular sector. For example, an IT fund would invest only in IT companies.

86. Series Fund: A mutual fund whose prospectus allows for multiple portfolios. Portfolios can be specialized or broad.

87. SIP:  SIP or Systematic investment plan works similar to a recurring deposit plan where the investor can make a monthly/quarterly fixed contribution. SIP is a good option for investors who don’t have a lump sum to invest.

88. Stock Fund: Mutual fund primarily investing in stocks.

89. Subsequent Purchase: The smallest additional purchase a fund allows an existing account.

90. Systematic Withdrawal Plans: This is a plan offered by many mutual funds where shareholders are given payments from their investments. Money for the payments is usually sourced from the fund’s dividend income and capital gain distributions.

91. Treasury Bills:  A government security sold for a duration of 91-364 days. The security is sold by the Reserve Bank of India.

92. Unit:  Represents the extent of ownership of an investor in a mutual fund.

93. Unit Holder: An investor who invests money in mutual funds.

94. Unload:  Selling units of mutual fund.

95. Venture Capital Fund:  A limited company that supports new industries by providing them risk capital.

96. Withdrawal Plan:  It is a facility to redeem mutual funds periodically and have the proceeds sent directly to the investor.

97. Zero Coupon Bond: It is a bond that is sold at a fraction of its face value. There are no periodic interest payments made, but the bond value increases with time. The earnings from the bond accumulate until the maturity period, and then the bond is redeemable at full face value.


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  1. Reliance Mutual Funds - Know about Reliance MF Schemes, Returns, NAV, Ratings, Statement. Get Complete Data & Analysis for all mutual funds offered by Reliance MF in 2020.
  2. ELSS Funds are the funds where you can invest and get tax benefits. Know more about What is ELSS / Equity Linked Savings Scheme in India? Get detailed information and FAQs on ELSS Funds, Tax Saving Mutual Funds schemes
  3. NRIs have two ways to operate their finances in India - through NRE and/or NRO accounts. Read on to know more about NRE & NRO accounts, and the difference between the two.
  4. SIP - Systematic Investment Plan is a beneficial way of investing in mutual funds. In SIP, you can invest manageable sums periodically in place of investing huge lump sum. Learn more about SIP, its meaning, Calculation, benefits & how to select the best SIP plans for your investments.
  5. DSP Mutual Fund - Know about DSP MF Schemes, Returns, NAV, Ratings, Statement. Get Complete Data & Analysis for all mutual funds offered by DSPBR MF in 2019
  6. Mutual fund portfolio overlap occurs when you invest in two or more different funds investing in the same asset such as shares of a company.
  7. Investing with a long-term horizon is good in the long run. Compounded growth is a significant benefit of investing in mutual funds. Compounded interest is the interest on interest.
  8. Confused about where to invest your money? This quick analysis will help you choose between mutual funds vs ULIPs.Read this article to know more about mutual funds vs ULIPs.
  9. Canara Robeco Mutual Fund (CRMF) was established in 2007 when Canara Bank partnered with Robeco Asset Management Company. This joint venture combines the domestic banking experience of Canara Bank with the global asset management expertise of Robeco. Read on to know more.
  10. Investors who trade in the stock market must be aware of the costs associated with such dealings. While some expenses may be quite straight forward, there are different charges involved that are levied at certain stages and with certain transactions.
  11. DSP Mutual Fund - Know about DSP MF Schemes, Returns, NAV, Ratings, Statement. Get Complete Data & Analysis for all mutual funds offered by DSPBR MF in 2019
  12. Reliance Mutual Funds - Know about Reliance MF Schemes, Returns, NAV, Ratings, Statement. Get Complete Data & Analysis for all mutual funds offered by Reliance MF in 2020.
  13. SBI Mutual Fund - Know about SBIMF Schemes, Returns, NAV, Ratings, Statement. Get Complete Data & Analysis for all mutual funds offered by SBI MF in 2018.
  14. Return on Investment (ROI) is one way to assess the performance of your investment. Check ROI before you invest. Read this article to know more.
  15. Risk tolerance is the amount of risks an individual can tolerate. It is important to know one's risk profile before deciding how, when and where to invest.
  16. Understand the role of liquidity and its importance in finance to get the most out of your investments.
  17. Calculate your interest return for SIP investments or lump sum investment with ClearTax ELSS Calculator. Know about mutual funds, its benefits & how to invest in mutual funds.
  18. An exit load refers to the fee that the Asset Management Companies (AMC) charge the investor at the time of exiting or redeeming a scheme. Read on to know more
  19. Investors wary of the volatility in the stock markets can consider investing in the notified bonds issued by the ( NABARD )National Bank for Agriculture and Rural Development. Know more about NABARD investments, advantages and disadvantages.
  20. Application Reference Number ( ARN ) is a unique number introduced to identify the intermediaries involved in the selling of the mutual funds. Know more about ARN code, its benefits and why you need to have an ARN code and how to get it.
  21. We often hear the two terms, maturity and duration when we are talking about debt funds. Generally, they get mixed up. Let's see what each one of them mean.
  22. The Common Account Number (CAN) is a reference number that is issued to mutual fund investors by MFU or the mutual funds utility platform. Learn more...
  23. Benchmark means a point of reference against which something can be measured. Lets see how the process of benchmarking works in context of mutual funds.
  24. "Risk" and "volatility" are popular terms used in the financial market. If you are confused between the two, read on to get all your doubts cleared.
  25. Diversification, also known as asset allocation, is a tool used to manage the unsystematic risk involved in investment by creating a diverse mix of investment options in each portfolio.
  26. Statutory Liquidity Ratio / SLR is the percentage of a bank's net demand and time liabilities that the bank needs to maintain in the form of liquid assets. Know about SLR objective, components, impact and how it is different from CRR & Repo Rate.
  27. Marginal Cost of Funds based Lending Rate is the latest method to compute the rate of interest on bank loans. Read on to explore the intricacies of MCLR vis-a-vis the earlier concept of Base Rate.
  28. Hierarchy of investment needs framework classifies which investment needs /objectives should ideally be prioritized over others. Read on to know more
  29. ISIN Code Search - The International Securities Identification Number (ISIN) is a unique code that is used to identify specific securities you can serach the fund hiuse name and ISIN number here . Learn more about it here...
  30. A mutual fund portfolio has different stocks, bonds, goods and cash in it - diversified by default. Understand the advantages and disadvantages of mutual funds to choose wisely & earn well.
  31. Price Earnings Ratio ( PE Ratio ) is the relationship between a company’s share price and earnings per share (EPS). Read on to see how it affects stock selection, calculation, working and issues involved in it.
  32. The CRR or the Cash Reserve Ratio is the share of a bank’s total deposit to be maintained with the latter in the form liquid cash. This is mandated by the RBI with the latter in the form liquid cash. Know about CRR objective, working impact on economy & how is it different from SLR.
  33. Tax-free bonds are types of goods or financial products, which the government enterprises issue. One example for this is the municipal bonds. They offer you a fixed interest rate, and hence is a low-risk investment avenue.
  34. The AMFI / Association of Mutual Funds in India, incepted in 1995, is a statutory body under the Finance Ministry to set ethical and transparent regulations in the Indian mutual fund arena. Read this article to know more about AMFI objective, registration & how it is important to investors.
  35. A Gold Exchange Traded Fund (or Gold ETFs as it’s commonly called) is an investment vehicle based on ever-fluctuating cost of gold, by capitalizing in gold bullion.
  36. Securities and Exchange Board of India (SEBI) is the designated regulatory body for finance and markets in India to protect the interests of the investors and promote mutual funds.
  37. Many people intend to gift mutual fund units to closed ones, however there are certain complexities associated with this transfer. Read on to know more.
  38. A riskometer is a pictorial meter which depicts the level of risk in a specific scheme. Read on to know its significance
  39. Rating agencies are institutions which asses the financial strength of large-scale borrowers. Read on to know their importance.
  40. Mutual Fund redemption is as important a decision as choosing an appropriate fund to earn higher returns on investment. Read on to know about its intricacy.
  41. Consolidated Account Statement is a statement where an individual gets the detail of all the financial statements at a single place. Read on to know more.
  42. As an investor or a stock market trader you may like to know the process of opening a demat account and the pros and cons of the same. Read on to know more.
  43. Calculate your Compound Annual Growth Rate (CAGR) via ClearTax CAGR Calculator. Learn how to apply CAGR in matters of investment & know about its limitations.
  44. Investors are seeking investment avenues other than fixed deposits – mutual funds, ELSS, bonds etc. Though riskier, they are more tax-efficient and deliver better returns.
  45. An asset manangement company incurs certain charges while managing a mutual fund. Read on to know the types of charges involved in fund management.
  46. Bank mandate form is the order of the day in case you want to start a systematic investment plan (SIP) in a mutual fund scheme. Read on to explore further.
  47. The article discusses Dividend Mutual Funds in detail. A dividend mutual fund is a stock mutual fund that primarily invests in companies that pay dividends.
  48. In this article, we have talked about Credit Opportunities Funds & how they work.
  49. In this article, we have talked about the Commodity Funds and how they function.
  50. In this article, we have talked about Bond ETFs and how they function.
  51. A blue chip fund is one that invests in blue chip stocks or shares. In this article, we talk about the blue chip funds and how they work.
  52. Mutual fund investments made by NRIs can be repatriable or non-repatriable in nature. Read on to know what repatriation of mutual fund means and how it can be done.
  53. FATCA & CRS are two global regulations to prevent people from tax evasion while investing in other countries. If interested in offshore investment, you must comply with the FATCA & CRS rules. Read more to know.
  54. IPV refers to In-Person Verification in which an investor has to verify his KYC documents in person (even after eKYC). This is a recent prerequisite for mutual fund investors
  55. Equity oriented debt funds are a subcategory of balanced funds in which 65% of fund portfolio is allocated to equities. Read on to know more.
  56. Non Convertible Debentures are scheme that proved to be a dark horse as they started delivering smaller but steady returns over time. Like traditional corporate FDs, NCD too is a fixed-income investment with a specific term and interest income.
  57. Every investment belongs to one or the other asset class – which is a collection of securities. Know which asset class the investment you are making belongs to achieve your financial goals.
  58. Fund houses allocate a unique number to each investor to enable him/her to track the mutual fund and performance. It functions just like a bank account number.
  59. Dividend yield ratio is a measure of the productivity of your investment. Read on to know more about it and how its calculated.
  60. A fund advisor plays an important role in keeping your investment goals on track because of the experience and expertise he brings. Read on to know the role of fund advisor in your investment strategy .
  61. Expense Ratio is better known as annual fund operating expenses and covers all the expenses incurred in mutual fund management. Read on to see how expense ratio impacts the returns associated with the mutual fund.
  62. Short-term bond funds are mutual funds that invest in bonds with a maturity period less than 5 years. Read on to know risks ,returns and benefits associated with investing in these bonds.
  63. Real estate investment trust (REIT) funds owns a portfolio of commercial/residential properties. Read on to know why investing in REIT funds is beneficial.
  64. Morningstar Inc. is a Chicago-based investment research and investment management firm. The company rates mutual funds and ETFs on a 1 to 5-star ranking.
  65. Portfolio rebalancing is the process by which an investor restores their portfolio to its target allocation. Learn more about it here...
  66. Investing in mutual funds can fetch very high returns but there are certain risks associated as well, read on to know what they are and how they can be mitigated.
  67. Ultra short-term funds can be likened to be close cousins of liquid funds. They can be an important part of your portfolio. Read the article to know more.
  68. A fund’s investment horizon defines the amount of time an investor would want to stay invested in that particular investment vehicle.Learn more here...
  69. CAMS is a Registrar & Transfer Agency, focusing on servicing investors along with AMCs and CAMSonline is their online portal.
  70. NRIs have two ways to operate their finances in India - through NRE and/or NRO accounts. Read on to know more about NRE & NRO accounts, and the difference between the two.
  71. CRISIL / Full form : Credit Rating Information Services of India Limited - The world's leading credit rating agency for financial institutions and financial instruments. It will help you assess a mutual fund. Know about its parameters & working methodology.
  72. The article describes what Sharpe ratio means, how is it calculated and its relevance in selecting the right mutual fund to minimize the risk of investment. Generally, risk-adjusted return happens to be returns earned over and above the returns generated by a risk-free asset like a fixed deposit or
  73. Need a contingency fund on a short notice? Instead of going for a personal loan, take loan against mutual funds without liquidating your units or affecting exisiting systematic investment plan.
  74. SIP - Systematic Investment Plan is a beneficial way of investing in mutual funds. In SIP, you can invest manageable sums periodically in place of investing huge lump sum. Learn more about SIP, its meaning, Calculation, benefits & how to select the best SIP plans for your investments.
  75. NRIs can make an investment in Indian mutual funds. Read this article to find out about the complete process of investment in mutual funds by NRIs.
  76. International funds, also known as global funds, invest in regions and countries outside India. Find out more about these funds.
  77. An asset management company is the fund house that manages and runs different mutual fund schemes. Find out more about what an AMC does, on what basis an investor choose them, how they manage funds, SEBI & AMFI guidelines and overall mutual fund structure.
  78. Blue chips stocks belong to high-quality companies that have consistency and stability. Find out why you should invest in these stocks.
  79. A mutual fund's AUM / Asset Under Management is the aggregate market value of the investments it holds in its portfolio. Read this article to know more
  80. CAGR or compound annual growth rate allows you to measure the returns earned by an investment over a complete period of time. Learn how to calculate CAGR & benefits of it.
  81. Think of a fund manager as the captain of a cricket team. It is the fund manager who takes investment calls to help the fund achieve its goals.
  82. KYC / Know your Customer is a one-time exercise that needs to be done to invest in mutual funds & various other applications. Find out the procedure to get it done online through Aadhaar, documents required, learn eKYC with ClearTax and how to check KYC Status.
  83. A portfolio of mutual funds can help you fulfill your investment goals in an effective manner. Read about how to build a portfolio of funds.
  84. NAV / Net Asset Value is a mutual fund’s overall cost which will depend on the price per fund unit. Know about NAV importance in Mutual funds, how it is relevant to investors, calculation, fund performance & much more.
  85. Want to invest in mutual funds? But don't know where to start? Visit ClearTax and learn more about mutual funds, how they work, who should invest, factors to keep in mind before investing, etc.
  86. Rupee cost averaging is a benefit of investing in equity mutual funds through SIPs. It helps you gain more when the markets are choppy.
  87. Complete guide on mutual fund taxation. Know how different mutual funds are taxed in a different manner, depending on the type of mutual fund & the investment holding period.
  88. Balanced funds make more sense than pure equity funds when you are looking to start an SIP in a bull run.
  89. Asking yourself these three questions can help you choose the right mutual fund to invest in.