NON-INTEREST BEARING BOND is a bond issued at a discount from its par value and not paying any interest to the holder. The interest earned is determined by the difference between the redemption price and the purchased price. U.S. Treasury bills are an example of non-interest bearing bonds.
DRAWDOWN is the magnitude of a decline in account value, either in percentage or currency terms.
RESIDUAL OWNERSHIP see RESIDUAL EQUITY THEORY.
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