Administrator:
The company that maintains the Register of Shareholders and records of the Fund, produces monthly NAV reports, and liaises with shareholders.
Class A Shares:
The participating shares that represent equity ownership in the Fund. These are issued to the investor at their current NAV and have no voting rights.
Class B Shares:
The non-participating management shares of the Fund. These are issued to the Fund Manager and have exclusive voting rights.
Commercial Paper:
Debt obligations issued by established companies for their short-term working capital needs.
Domestic:
Of, in, or relating to The Bahamas.
Equities:
The shares or instruments of a company that indicate an interest in the assets of the company.
Fund Manager:
The company that sponsors the Fund and offers the Fund's shares for subscriptions.
Investment Account:
An account established with Montaque Securities International to reflect the value of each shareholder's ownership in the Fund.
Investment Advisor:
The professional money manager that provides the investment advice and management services to the Fund.
NAV (Net Asset Value):
The value of the Fund's assets, less its liabilities.
Open-end Mutual Fund:
A mutual fund with no specified subscription limit or closing date, and which redeems its own shares or units.
Redemption:
The repurchase of Class A shares by the Fund.
Registered Stock:
Long-term securities of The Bahamas Government, issued to finance its ongoing fiscal needs.
Shareholder:
Any individual, partnership, or corporation with a beneficial interest in the Fund through the holding of Class A shares.
Subscription:
The Application for shares in the Fund.
Treasury Bills:
Short-term securities of The Bahamas Government, with 91- and 182-day maturities.
Valuation Date:
The last business day of the month, when the Fund's NAV is computed, and subscriptions and redemptions are deemed effective.
Yield:
The rate of return on an investment.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances
ARTICLE
28 October 1998