AVERAGE FUNDS EMPLOYED Definition

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AVERAGE FUNDS EMPLOYED see FUNDS EMPLOYED.

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NO-LOAD FUND is a mutual fund sold directly to investors without commissions paid to salesmen or other up-front costs. Some funds charge surrender fees, although a pure no-load fund has no sales, exit or marketing fees.

GNMA MIDGETS are GNMA bonds secured by mortgages with a stated maturity of 15 years.

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