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S&P 500® (Standard & Poor's® composite index of 500 stocks). Market value-weighted index that measures stock market price movements, based on the aggregate performance of 500 widely held common stocks.
SEC (Securities and Exchange Commission). A US federal agency created by the Securities Exchange Act of 1934. The SEC administers statutes designed to promote full public disclosure and protect the investing public against malpractice in the securities markets.
Sector mutual funds. Funds that concentrate on one industry such as utilities, health care or small companies. These funds tend to be more volatile than funds holding a diversified portfolio of securities in many industries.
Security. A document identifying ownership of stocks, bonds or other investments. Publicly traded securities can be contributed to a donor-advised fund.
Short position. Sale of a security not owned by the seller to take advantage of an anticipated decline in the price.
Short-term capital gain or loss. Gain or loss on the sale or exchange of a security (including mutual fund shares) that has been held one year or less.
7-day annualized yield. Reflects the interest income per share a money market fund earned on its investments for the last seven days, calculated as an annual percentage rate.
Standardized (SEC) yield. Mutual fund's yield, calculated as required by the SEC, based on the earnings of the fund's portfolio during a 30-day period, divided by the offering price per share at the end of the period.
Statutory Board. Unique to the Singapore context, statutory boards are quasi-government organizations promoting economic growth and social development in Singapore.
Successor. An individual named by the donor to succeed the donor in advising a donor-advised fund account in the event of the donor's death. A successor has no authority over the account until the donor's death, at which time the successor takes on all the responsibilities of the donor, with the ability to recommend grants, and name advisors and successors. A donor may name more than one successor and can declare that the successors will share responsibility for the account, or that the account funds will be split with each successor becoming responsible for a portion.
Total return. Return on an investment over a specified period of time, which includes share-price appreciation, reinvested dividends or interest, and any capital gains.
Treasuries. Negotiable debt obligations of the U. S. government, secured by its full faith and credit and issued at various schedules and maturities. The income from Treasury securities is exempt from state, but not federal, income taxes.
Treasury bills. Short-term securities with maturities of one year or less. Treasury bills have minimum denominations of $10,000, and are issued at a discount from face value.
Treasury bonds. Long-term debt instruments with maturities of 10 years or longer issued in minimum denominations of $1,000.
Treasury notes. Intermediate-term securities with maturities of 1 to 10 years. Denominations range from $1,000 to $1 million or more.
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