Glossary

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Sales Charge

A charge for buying an investment.

Sector Fund

A fund that invests in a particular or specialized segment of the marketplace, such as stocks of companies in the software, healthcare, or real estate industries.

Securities and Exchange Commission (SEC)

Government agency created by Congress in 1934 to regulate the securities industry and to help protect investors. The SEC is responsible for ensuring that the securities markets operate fairly and honestly.

Security

A general term for stocks, bonds, mutual funds, and other investments.

Separate Account

An insurance company account that is segregated or separate from the insurance company’s general assets. Also refers to a fund managed by an investment adviser for a single plan.

Share

A representation of ownership in a company or investment fund.

Share Class

Some investment funds and companies offer more than one type or group of shares, each of which is considered a class (e.g., “Class A,” “Advisor” or “Institutional” shares). For most investment funds each class has different fees and expenses but all of the classes invest in the same pool of securities and share the same investment objectives.

Shareholder

An owner of shares in an investment fund or corporation.

Shareholder-Type Fees

Any fee charged against your investment for purchase and sale, other than the total annual operating expenses.

Small Cap Fund

A fund that invests primarily in small-cap stocks.

Small Cap Stocks

Stocks of companies with a smaller market capitalization. Small caps are often considered to offer more growth potential than large caps and mid caps but with more risk.

Small Capitalization (Cap)

A reference to either a small company stock or an investment fund that invests in the stocks of small companies.

Stable Value Fund

An investment fund that seeks to preserve principal, provide consistent returns and liquidity. Stable value funds include collective investment funds sponsored by banks or trust companies or contracts issued by insurance companies.

Standard & Poor’s 500 Stock Index (S&P 500)

An index comprised of 500 widely held common stocks considered to be representative of the U.S. stock market in general. The S&P 500 is often used as a benchmark for equity fund performance.

Stock

A security that represents an ownership interest in a corporation.

Stock Fund

A fund that invests primarily in stocks.

Stock Symbol

An abbreviation using letters and numbers assigned to securities to identify them. Also see Ticker Symbol.

Summary Prospectus

A short-form prospectus that mutual funds generally may use with investors if they make the long-form prospectus and additional information available online or on paper upon request.