Dictionary of Financial Terms -
- Managed Fund
- A pooled investment fund which is actively managed. Often,
investment is only possible through a linked life insurance policy issued by the insurance company which is managing
- Market Capitalisation
- the value of a company as measured by the total stockmarket price
of its issued and outstanding shares. This is calculated by multiplying the number of shares by the current market
price of a share. It is also widely used as a definition of company size - hence, big corporations are usually referred
to as large cap stocks (See also Small Caps)
- Matching Gifts Programme
- A corporate contributions program that will match contributions
made by employees, retirees, and their spouses to qualifying nonprofit organizations. Specific guidelines regarding the
type of organizations included, donor eligibility, and the dollar amount which will be matched are established by each
- Matching Grant
- A grant or gift made with the specification that the amount donated
must be matched from other sources on a one-for-one or some other prescribed basis.
- Maturity Date
- The date on which a payment becomes due at the end of the term of
an endowment policy or a fixed term security or loan.
- Maturity Value
- The amount payable to the insured at the maturity date of an
- Medical Examiners Report. A report by a doctor who is required to
examine the individual concerned especially for the purpose. Used for underwriting purposes.
- Motor Insurers Bureau.
- Micropal Star Ratings
- Independent investment funds analysts Micropal continually monitor
all of the UK's unit trusts, measuring the balance between each fund's performance over three years
against the up or down movements in its unit price (i.e. the volatility). They then award stars on a scale from
0 to 5, with the highest number going to those funds with the lowest volatility - and therefore risk - in
relation to their overall performance. Five stars is the top award.
- Mortgage Interest Relief at Source. The mortgage lender will reduce
the monthly payment required from a borrower by the amount of tax relief applicable to the interest on the loan. The
lender can claim the balance from the Inland Revenue.
- Monetary Policy
- influencing the direction of an economy through control of the
money supply (See also Fiscal Policy)
- Money Purchase Scheme
- A pension scheme providing benefits determined by the contributions
made in respect of a member and the investment return on those contributions. At retirement the accumulated fund is
used to purchase an annuity. All personal pensions (and some occupational schemes) are 'money purchase
- Relative incidence of disease and accidents in a well-defined class
or classes of persons.
- Morbidity Table
- Actuarial statistics showing the frequency and duration of a
- Mortality Table
- A statistical table showing the probability of death (death rate)
at each age.
A loan used to buy your house, where your house is used as
security until you've paid off the loan (usually after a fixed period). There are three main types of mortgage:
- A repayment mortgage - you pay off the loan by instalments of
capital and interest so that after the agreed period you have paid off all the loan
- An interest only mortgage - you pay only interest on your
mortgage and make other arrangements to repay the capital, like an endowment policy.
- A flexible mortgage allows you to make overpayments and take
- Mortgage deed
- This is the legal document that you sign to say that the lender has
a legal charge over your property.
- Mortgage Indemnity Premium (MIP)
- Insurance that covers the lender in case your property is
repossessed and the lender cannot get the money.
- Motor Insurers' Bureau
- The Motor Insurers' Bureau is a body funded by motor insurance
companies, which deals with claims for injury compensation when the driver at fault is not insured, or cannot be
- A commercial organisation owned by its members (as opposed to being
owned by shareholders). Examples are Building Societies and some life insurance companies.
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