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Find in Piraeus Asset Management MFMC glossary definitions for Mutual Funds. The definitions of vocabulary arising from the international and domestic academic literature and the institutional framework. 

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Emerging market

An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market. This includes countries that may become developed markets in the future or were in the past.

ETF/ Exchange traded Fund

An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as a stock index or bond index. ETFs may be attractive as investments because of their low costs, tax efficiency, and stock-like features.


A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued.


Fixed Income Security

Fixed income refers to any type of investment under which the borrower/issuer is obliged to make payments of a fixed amount on a fixed schedule.

Funds of Funds (FOF)

A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities.

Future contract

A Future is a contract to buy or sell an underlying (such as stock index, commodities, Government bonds) at a specified date and at a pre-defined price. Unlike forwards which are generally OTCs, Futures can be contracts traded on Exchanges and requiring margin calls.


Growth Investing

Growth investing strategy seeks to invest in companies with high potential of earnings growth. This is contrasted with value investing.

Growth Stocks

A growth stock is a share of a company whose earnings are expected to grow at an above-average rate relative to the market.


Hedge Fund

A hedge fund is an investment fund that pools capital from a limited number of accredited individual or institutional investors and invests in a variety of assets, often with complex portfolio construction and risk management techniques. It is administered by a professional management firm, and often structured as a limited partnership, limited liability company, or similar vehicle.

Hellenic Capital Market Commission

The Hellenic Capital Market Commission (HCMC) was established as a legal entity by Law 1969/91 and organized by Law 2324/1995, aiming to ensure the protection and the orderly and efficient operation of the capital market, which is crucial for the growth of the national economy. HCMC's management and staff are equipped, by virtue of the European and Greek legislation, with functional and personal independence guarantees for the accomplishment of their mission.

High Yield

High yield is a poor consideration of credit quality (significant probability of default) assigned by a rating agency. For instance, to be classified high yield according to Standard and Poor’s, a bond or an issuer must have a rating lower than BBB - . High yield is opposed to investment grade.