LIQUIDITY is a. a companys ability to meet current obligations with cash or other assets that can be quickly converted to cash; b. in securities, it is the ease with which an instrument can be bought or sold at or near prevailing market prices in the secondary market (often reflected by the range of the bid-asked spread).
MANAGEMENT EXPENSE is the management fee deducted from a funds average net assets to pay an advisor or sub-advisor. This fee is normally on a sliding scale. As the net assets of the fund increase, the percentage deducted for management fees decreases. A fund can also have a fixed rate or flat fee to compensate the advisor.
PROPRIETARY is an account, item, or information belonging to a company or individual. See PROPRIETARY ASSET.
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